General Business: Vocabulary Chapter 9 Lesson 3

Trend

a pattern or general tendency

Giveback

wage, fringe, benefit, or work rule given up when renegotiating a contract

Two-tier wage system

wage scale paying newer workers a lower wage than others already on the job

Glass ceiling

seemingly invisible barrier hindering advancement of women and minorities in a white male-dominated organization

equivalent

equal in value

set-aside contract

guaranteed contract or portion of a contract reserves for a targeted group, usually a minority

minimum wage

lowest legal wage that can be paid to most workers

Current dollars

dollars amounts or prices that are not adjusted for inflation

real or constant dollars

dollar amounts of prices that have been adjusted for inflation

base year

year serving as a point of comparison for other years in a price index or other statistical measure.