An Unspoken Agreement Between Workers and Firms That the Firm

question 197

Multiple Choice

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

• A) an implicit or social contract.
• B) an explicit contract.
• C) a relative-wage contract.
• D) employment-at-will.

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Definitions:

Rules

Established guidelines or principles governing behavior or conducting activities within specific contexts.

Different Interests

Diverse or varying priorities and desires among individuals or groups in a negotiation or decision-making process .

Surface

The outermost layer or boundary of an object or the superficial aspect of something as opposed to its essence.

Benefit

An advantage or profit gained from something, often used in the context of employment, insurance, or social welfare.