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Labor Relations and Wage Determination in the Corporate World

Explore the factors affecting wage rates, the impact of unions on workers, and key concepts in labor economics. Understand why corporations resist unionization and the dynamics of real wages versus cost of living.

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Labor Relations and Wage Determination in the Corporate World

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  1. Why would a big corporation like Wal-Mart not want to allow workers to unionize? 1 List the three factors that determine wage rate.3 pts 2 What’s the diff between real wages & cost of living?2 pts Percentage of civilian labor force that is unemployed (give the current national % ) 3 5 4 What are three of the early goals of labor? (AFL, Knights, etc…) 20 Ch. 8 Quiz GLOSSARY

  2. 6 Federal Minimum Wage=$1 pt CA Minimum Wage =$ 1 pt OK Minimum Wage =$ 2pts remember both??? 7 8 List two positive & two Negative things about unions. 4pts Explain why Mr. Orr’s kids are not considered “unemployed” even though they don’t work.2 pts 9 10 21 Chap. 8 (continued) GLOSSARY End of Chapter 8

  3. 20 Super Bonus Challenge Questions 1. Why do some economists refer to a minimum wage increase as a “phantom raise”??? (2pts) 2. Who are the two Representatives for Fullerton? (North & South) (2pts) 3. Name TWO states in MEXICO. (2pts) GLOSSARY

  4. No Unions for WalMart 1 List the three factors that determine wage rate.3 pts 2 Percentage of civilian labor force that is unemployed 1 pt “real wage” “cost of Livin’2 pts 3 5 4 Early Goals (3pts) 20 Ch. 8 Quiz Answers Don’t want to pay high wages, etc… Demand for what you do, Productivity/education, Supply of Workers 1.What you have after Taxes, retirement, etc... 2. How much stuff will cost And how far your $ goes. Better pay, hours, conditions, etc… GLOSSARY Unemployment Rate= 7.8%

  5. 6 Federal Minimum Wage=$1 pt CA Minimum Wage =$ 1 pt 7 OK Min Wage=2 pts List two positive & Negative things about unions.4pts Explain why my children are not considered “unemployed” even though they don’t work.2 pts 10 8 9 21 Chap. 8 20 total $7.25 $8 $2.00 for tiny businesses $7.25 for the rest GLOSSARY Positive: Collective Voice, help in negotiations, make things safer, more efficient, etc… Negative: strange rules, obstacle to business, strikes, etc… End of Chapter 8 Various

  6. 20 Super Bonus Challenge Questions 1. Why do some economists refer to a minimum wage increase as a “phantom raise”??? B/C you don’t really get more $, business raise prices 2. Who are the two Representatives for Fullerton? (North & South) (2pts) Royce, Sanchez GLOSSARY 3. Name TWO states in MEXICO. (2pts)

  7. Due next Fri. CHAPTER 9 P.258 Econ Vocab #1-11

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