Exam 14: The Economy and Work

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 __________.

A substandard working environment where labor laws are violated is called a __________.

Industries declining in output and employment are __________ industries.

Brian's mother and father both lost their jobs in 2010 and could not afford to make the payments on a house that was worth less than what they paid for it.When the house was foreclosed on,they had nowhere to live.They are part of the __________.

Discuss the problems associated with the reporting of employment and unemployment statistics by the government.

Matt has not actively sought work for over a month since losing his job last year.He is no longer counted as unemployed by the Bureau of Labor Statistics,instead being classified as a __________.

What are the implications of globalization,including such agreements as NAFTA,CAFTA,and the like?

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

Wages in the new service sector of the economy tend to be __________ those previously paid in the manufacturing sector.

Centralized planning is a component of __________.

Patrick wants to open a business in a country with a strong sense of community and egalitarianism.He thinks his company should be interested in the public good and is perfectly fine being subject to a democracy.Patrick would like to open his company in a __________ country.

Josh works in the IT industry as a computer systems analyst.His job can be characterized as in which of the following?

Chris has been out of work for a while and has not actively sought work in over a month.He is a __________ worker.

What are the characteristics of capitalism and socialism? Discuss the fundamental differences between the two economic forms. Ideal

When the Earth's peoples are increasingly interconnected economically,politically,culturally,and environmentally we are in an era of __________.

__________ are substandard work environments where workers are paid less than minimum wage,are worked overtime without being paid premium rates,and are subjected to conditions that violate labor laws.

Schumpeter's concept of __________ refers to the process of economic transformation that is associated with the ongoing mutation of capitalism.

Unemployment is evenly distributed among racial and ethnic groups.

Scientific management has an emphasis on __________.

Unemployed people who want to work but whose presence tends to depress the wages of other workers and keep them from making demands on their employers are known as __________.