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nursemegan nursemegan
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5 years ago

Question 1.

Frito Lay experienced a 20% drop in its sales. Even though the demand for its product decreased, Frito Lay did not cut the wages of its nonunionized workers. This is an example of



▸ an explicit contract not to cut wages.

▸ employment-at-will.

▸ poor management.

▸ an implicit or social contract not to cut wages.

Question 2.

Suppose that airline workers are laid off during a recession because of an unspoken agreement between airline workers and airline executives that wages will not be reduced. This example is consistent with the



▸ relative-wage explanation of unemployment.

▸ explicit contract explanation of unemployment.

▸ implicit contract explanation of unemployment.

▸ efficiency wage explanation of unemployment.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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lindslinds
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nursemegan Author
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5 years ago
Thank you, thank you, thank you!
jamesbove
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Brilliant ツ
Brownr40
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This calls for a celebration Person Raising Both Hands in Celebration
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