Demand for Workers in Some Industry Declines

question 37

Multiple Choice

Demand for workers in some industry declines.These workers are reluctant to have a cut in their nominal wage.However,

• A)inflation will raise their real wage and so increase the number of available workers.
• B)inflation will raise their real wage and so decrease the number of available workers
• C)inflation will reduce their real wage and so increase the number of available workers.
• D)inflation will reduce their real wage and so decrease the number of available workers.

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Definitions:

Communication

Communication is the process of exchanging information, ideas, thoughts, and feelings through verbal or non-verbal means.

Operational Justice

Refers to the fairness in the processes and procedures that resolve disputes and allocate resources.

Perceived Fairness

The subjective assessment of whether an action, decision, or treatment appears just, equitable, or reasonable to an individual.

Teams Competency

The collective skills, abilities, and expertise of a team that enable it to perform effectively.