1. The act of calling attention to malfeasance in one’s organization is called whistle blowing
Answer
Correct Answer:
True
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2. Payment for work done on an hourly basis is called
Answer
Correct Answer:
Wage
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3. United States–Mexico–Canada Agreement (USMCA) explains a renegotiated trade agreement ratified in _______ by the United States, Mexico, and Canada that is meant to replace NAFTA.
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Correct Answer:
2020
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4. _____ Economy describes a work that is illegal or is designed to avoid the reporting of payments to government authorities such as tax collectors; also known as the shadow economy
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Correct Answer:
Underground
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5. Remuneration that includes a wage or salary plus benefits is called total Compensation
Answer
Correct Answer:
True
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6. Unemployment that is caused by basic changes in the economy is called
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Correct Answer:
Structural Unemployment
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7. The negative psychological and physiological effects of difficulties at work and elsewhere is called stress
Answer
Correct Answer:
True
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8. The ________ sector of the economy that provides services such as education, health care, and government; also known as the tertiary sector
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Correct Answer:
Service
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9. An educational approach that is part of students’ coursework and requires community engagement and reflection exercises, and that results in active experiential learning is called service learning
Answer
Correct Answer:
True
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10. The sector of the economy that includes manufacturing and other activities that produce material goods is called
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Correct Answer:
Secondary Sector
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11. Remuneration paid on a monthly or bimonthly basis and not directly tied to the number of hours worked is called
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Correct Answer:
Salary
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12. ________ of anything that can be divided is called
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Correct Answer:
One-fifth
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13. The sector of the economy centered on farming, fishing, and the extraction of raw materials is called
Answer
Correct Answer:
Primary Sector
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14. A cost-cutting measure in which a company hires a supplier (domestic or foreign) to create goods and perform services or job functions that previously were performed by the company’s employees is called
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Correct Answer:
Outsourcing
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15. The tendency of certain jobs to be filled predominantly on the basis of gender or according to race and ethnicity is called Occupational Segregation
Answer
Correct Answer:
True
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16. North American Free Trade Agreement (NAFTA) describes A pact initiated in _______ to stimulate trade among the United States, Canada, and Mexico by lowering or eliminating tariff barriers
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Correct Answer:
1994
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17. The disappearance of jobs that require moderate-level skills in relation to jobs that require either high or low levels of skills is called Labor Market Polarization
Answer
Correct Answer:
True
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18. The segment of the population either employed or actively seeking employment is called labor force
Answer
Correct Answer:
True
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19. The set of cognitive, physical, and social skills of individual workers that produces economic value for organizations is called human capital
Answer
Correct Answer:
True
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20. Great Depression describes the Worldwide economic downturn in the period 1929–______, marked by failing businesses, low or at times negative economic growth, and widespread unemployment
Answer
Correct Answer:
1941
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21. A free-market system in which temporary, flexible jobs are performed by independent workers who are hired by organizations for short-term commitments is called
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Correct Answer:
Gig Economy
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22. Unemployment that results from workers being temporarily jobless while transitioning from one job to another is called
Answer
Correct Answer:
Frictional Unemployment
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23. ______________ is the legal practice that allows an employer to terminate a worker’s employment even if no specific reason for the termination is given
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Correct Answer:
Employment at Will
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24. The division of work into a multiplicity of specialized occupational roles and tasks is called
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Correct Answer:
Division of Labor
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25. Discouraged workers who have given up looking for jobs and hence are no longer counted as members of the labor force
Answer
Correct Answer:
True
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26. _______ Unemployment caused by cyclical downturns in the economy
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Correct Answer:
Cyclical
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27. Workers with limited or no job security; their jobs are not permanent is called
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Correct Answer:
Contingent Workers
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28. Non Cash compensation paid to employees, such as health insurance and pension plans; also known as fringe benefits
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Correct Answer:
True
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29. Which statement is NOT true about living wages?
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Correct Answer:
Research has confirmed that higher living wages hurt the local economy.
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30. Though employers report positive attitudes toward people with disabilities, actual hiring rates reveal an opposite tren
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Correct Answer:
False
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31. The U.S. Department of Labor was created in 1944.
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Correct Answer:
False
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32. There is no federal law prohibiting employment discrimination based on sexual orientation.
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Correct Answer:
True
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33. Many of the worker benefits advocated by early labor unions are now mandated through federal, state, or local labor laws.
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Correct Answer:
True
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34. There is no country in the world where women make the same as or more than men.
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Correct Answer:
True
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35. Which type of organization would be LEAST likely to support increasing the minimum wage?
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Correct Answer:
A small business
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36. All of the following are associated with the Union of Needletrades, Industrial, and Textile Employees except
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Correct Answer:
Liberty University
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37. All of the following are effects of unemployment except
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Correct Answer:
Sense of control.
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38. Which individual would be considered underemployed?
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Correct Answer:
Sue, a high school teacher who is working as a secretary because she can't find a job in her field
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39. What has been called "the best umbrella in this historic economic storm and the best preparation for the economy that is emerging in recovery?"
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Correct Answer:
A college degree
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40. A widespread, systematic disinvestment in our nation’s manufacturing and production capacities is referred to
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Correct Answer:
Deindustrialization.
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41. How did the workforce change during World War II?
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Correct Answer:
Working women held jobs in war industries.
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42. During the industrial revolution, family production was replaced with
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Correct Answer:
Market production.
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43. What was so unique about the Great Recession of 2007-2009?
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Correct Answer:
Its impact on educated and formerly middle class individuals
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