Walter Oi regarded labour as a quasi fixed factor because
A) Institutional arrangements make it difficult to shed labour in a recession
B) There are fixed labour/machine ratios
C) It does not pay to shed certain types of skilled labour in a recession
D) Non-wage costs exceed wage costs.
Correct Answer:
Verified
Q2: The substitution effect
A) Is represented by the
Q3: Manning
A) In a steady state total separations
Q4: The Marshallian rules of derived demand
A) Assume
Q5: Employers may prefer a standard workweek plus
Q6: Capital utilisation will increase if
A) The rate
Q8: Labour hoarding
A) Implies a sub-optimal use of
Q9: The reservation wage is
A) That wage which
Q10: The matching function
A) Relates the number of
Q11: The optimal stopping rule in job search
Q12: Regional migration only takes place
A) When he
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