A. the contention that workers in one industry may be unwilling to accept a wage cut unless they know that workers in other industries are receiving similar cuts
B. employment contracts that stipulate workers’ wages usually for a period of one to three years
C. unspoken agreements between workers and firms that firms will not cut wages
D. the incentive that firms may have to hold wages above the market clearing rate
Correct Answer: the contention that workers in one industry may be unwilling to accept a wage cut unless they know that workers in other industries are receiving similar cuts ✔
Last Updated: June 11, 2019