An unspoken agreement between workers and firms that the firm will not cut wages is known as

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An unspoken agreement between workers and firms that the firm will not cut wages is commonly referred to as an implicit or social contract. This agreement is typically based on the understanding that workers will provide high-quality labor, productivity, and loyalty to the firm in exchange for job security and stable, predictable wages.

An Unspoken Agreement Between Workers and Firms That the Firm