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General Motors saw the demand for its automobiles drop by 15%. Even though the demand for its automobiles decreased, GM did not cut the wages of its non-unionized workers. This is an example of:
A) an implicit or social contract not to cut wages.
B) a relative-wage contract.
C) an explicit contract not to cut wages.
D) employment-at-will.
Textbook 
Principles of Macroeconomics

Principles of Macroeconomics


Edition: 11th
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JesslynJesslyn
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NYC Author
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8 years ago
Thanks for answering Slight Smile
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