Exam 13: The Economy and Work

Ben wants to open a business in a country that allows him to own property privately, make a personal profit, and compete openly against other firms. In general he prefers that the government stay out of his business. He would like to open his business in a __________ system.

Scientific management has an emphasis on __________.

Gerald is a freelance artist who works from home. He is referred to as a(n) __________ employee.

__________ believed an "invisible hand" would control the marketplace.

One reason for the decline of union strength is the loss of __________ jobs.

__________ has led to the decline of unions.

__________ is a common occupational danger that plagues workers today.

Placement in a particular segment of the labor market is closely tied to social class.

In a bureaucratic hierarchy, each person in the chain's hierarchy relays orders to and takes responsibility for the actions of those __________ while following orders from those __________.

A common belief is that unemployment is functional for society because it reduces inflationary pressures.

The speculative nature of the housing market and home flipping led to __________, and was a major contributor to the most recent recession.

Mary, an African American domestic worker, harbors resentment toward Hispanics because she fears they will take her job if she asks for higher wages or misses work for some reason. This racial tension is a consequence of the fact that racial minorities disproportionately make up __________.

Many contingent workers ______ than their counterparts who do the same work.

Alienation and the resultant feeling of work being meaningless is a problem experienced almost exclusively by white-collar workers.

A problem associated with the current labor market is that __________.

Nowadays, union workers make __________ than their nonunion peers.

The labor market assigns people of color disproportionately not only to low paying jobs but also to jobs that are unstable.

OSHA has all the resources it needs to ensure workplace safety.

Don does not mind paying higher taxes for the benefit of everyone. Although he pays nearly half his income in taxes, he is happy living in a __________ where there is a family support program for parents and children, care for the elderly, and a national health care program.

Some companies employ workers in low-wage countries to provide services to people in the United States instead of employing Americans to do the same work as they had in the past. This practice is known as __________.