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Economics
MEDIUM
ENGLISH
Economics
The relative-wage explanation for the existence of downwardly sticky wages emphasizes ?
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
Correct answer
B
employment contracts that stipulate workers’ wages usually for a period of one to three years
Option B
C
unspoken agreements between workers and firms that firms will not cut wages
Option C
D
the incentive that firms may have to hold wages above the market clearing rate
Option D
Correct answer: A
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