biz 4th qrter exam: worksheets

Which of the following were a direct result of union activity?

a higher rate of pay for overtime hours worked

Which of these best describes public reaction to the earliest labor organizers?

They were considered troublemakers

Which of the following statements best explains why workers began to form unions?

A united workforce was more likely ...

Which of the following statements is true about the formation of the American Federation of Labor?

.

It was formed in 1886 by combining...

Which activity is illegal in a state with a right-to-work law?

requiring union membership as a condition of employment

T or F

Arbitration places a dispute before a third party for a binding settlement.

True

T or F

A grievance procedure is an informal method of settling workplace disputes

False

T or F

The market theory of wage determination states that salaries are best set by.....

False

T or F

Signaling theory assumes that people with college....

True

T or F

The theory of negotiated wages states that organized labor helps to determine pay rates.

True

Which of the following of these would most likely to produce an exception to the market theory of wage determination?

the theory of negotiated wages

In collectve bargaining negotiations, who represents the interests of the workers?

elected union officials

Which noncompeting category of workers stand to gain the most from unionization?

unskilled labor

Which if these offers an explanation for why a less productive worker might make more than his or her peers?

seniority

Which cause of the wage gap between men and women was addressed by the Equal Pay Act of 1963?

discrimination

Which of the following partially explains the current decline in union influence?

the increase in the number of women and teenagers in the workforce

How does inflation affect the minimum wage?

it decreases the buying power of the wage

In which country do workers produce the most per hour on the job?

Norway

Which of the following is an accurate statement about minimum wage laws in the united States?

Some states have established a higher-than-federal minimum wage

which is a good synonym for the word barter in the term barter economy?

fiat

which statement best explains why money was invented?

money was invented to facilitate the exchange of goods and services

which of the following is a basic characteristic of money?

all of the above

which of the following is one of the three functions of money?

store of value

what are m1 or m2?

money supplies

when did congress print paper currency for the first time?

during the civil war

by 1861, about how many kinds of paper currencies were in circulation in the united states?

thousands

which of the following terms best describes “greenbacks”?

legal tender

the national banking system was created in ___ to standardize currency and banking practices in the united states

1863

the federal reserve is the nation’s ___ bank

central

accessing funds in time deposit accounts is

restricted

the risk of ending up with the quivalant of a never-ending loan is one of the disadvantages of using

credit cards

because of technological developments, the banking industry is steadily moving toward ___ banking

electronic

the technological development in banking is called the ___ in replacing magnetic strip technology

smart card

what will your “creditworthiness” be based on?

all of the above

although banks are engaged in a number of different activities, the primary one is lending money, which they mainly get from investors who purchase stock in banks

false

the shareholders of a corporate bank are responsibile for the bank’s debts

false

the reserve requirement is the formula used to compute the amount of depositiry institution’s requried reserves

true

certificates of deposit are also known as DDAs or demand deposit accounts

false

certificates of deposit actually are not deposits, but loans from consumers to banks

true