Which of These Is an Advantage of Long-Term Contracts in Resource

question 36

Multiple Choice

Which of these is an advantage of long-term contracts in resource markets?

• A)Long-term contracts decrease the duration of recessionary gaps.
• B)Long-term contracts reduce unemployment below its natural rate.
• C)Long-term contracts help avoid recession in an economy.
• D)Long-term contracts increase the flexibility of nominal wages.
• E)Long-term contracts reduce the average cost of negotiation.

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Definitions:

Strokes

Medical conditions that occur when the blood supply to part of the brain is interrupted or reduced, preventing brain tissue from getting oxygen and nutrients, causing cells to die.

Type A Personality

A personality trait characterized by high levels of competitiveness, self-driven ambition, impatience, and a constant sense of urgency.

Competitive

Refers to a situation, environment, or attitude marked by a striving for superiority, success, or winning, often against others.

Hard-Driving

A personality trait characterized by competitiveness, aggression, impatience, and a sense of urgency, often associated with stress and health risks.