Long-Term Labour Contracts Are an Important Feature of ________ Theories

Multiple Choice

Long-term labour contracts are an important feature of ________ theories of the labour market.In contrast to a world with continuous bargaining of wages and employment,the existence of such contracts leads to a labour market in which involuntary unemployment is ________.

A) non-market-clearing; possible
B) non-market-clearing; impossible
C) market-clearing; possible
D) market-clearing; impossible
E) market-clearing; always present