Five Economic Terms from Current Economic Issues

Five Economic Terms from Current Economic Issues - 4)...

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Five Economic Terms from Current Economic Issues 1) Productivity: A ration of the amount of output per input. (Page 9, paragraph 2) 2) Union Shop: A firm in which all workers must belong to the union that represents their bargaining unit. (Page 44, paragraph 4) 3) Wage (salary): A factor payment for labor service. (Page 63, paragraph 3)
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Unformatted text preview: 4) Social Security: A federal program of social insurance, introduced in 1935, that now provides retirement, disability and medical care to eligible participants. (Page 87, paragraph 3) 5) Income: Payments received plus or minus changes in value in ones assets in a specified time period. (Page 99, paragraph 3)...
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