Which of the following is best considered an implicit contract?
A) A union contract that specifies hourly wages and fringe benefits.
B) A union contract that specifies how overtime wages will be calculated.
C) An informal agreement between a firm and its employees to reduce hours of work for everyone a little bit during an economic contraction in order to prevent firing anyone.
D) An informal agreement between a firm and its employees to have the firm fire its most expensive workers first during an economic contraction.
E) A historical agreement between a firm and its employees that the firm pays workers based on a combination of age, experience and education.
Correct Answer:
Verified
Q1: According to the neo-classical model, what would
Q12: In the United States from 1950 to
Q21: If the intertemporal substitution hypothesis is correct,
Q25: Since 1980, unemployment rates have been _
Q25: Which is not a likely explanation as
Q27: If the seasonally unemployed no longer qualified
Q27: The Phillips Curve relates
A) the unemployment rate
Q28: The short-run Phillips curve is _, while
Q29: The likelihood of experiencing a spell of
Q29: The natural rate of unemployment is higher
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents