Multiple Choice
Suppose that cruise ship employees are laid off during a period of significant decrease in demand for cruise vacations because they have a 3-year contract which has locked their wages into place. This example is consistent with the
A) explicit contract explanation of unemployment.
B) social contract explanation of unemployment.
C) efficiency wage explanation of unemployment.
D) relative-wage explanation of unemployment.
Correct Answer:
Verified
Correct Answer:
Verified
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