Bargains Are Illegal If They Violate a Crime or Tort

question 43

True/False

Bargains are illegal if they violate a crime or tort but not if they are merely against public policy.

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Definitions:

Average Productivity

The total output of a production process divided by the number of units of input, measuring efficiency in using inputs to produce outputs.

Noncompeting Groups

Collections of workers who do not compete with each other for employment because the skill and training of the workers in one group are substantially different from those of the workers in other groups.

Geographic Immobility

Refers to the inability or reluctance of labor force or resources to move from one location to another, often due to economic, social, or personal factors.

Compensating Differences

Wage differentials that are paid to workers to offset the undesirable aspects of a job or to compensate for risks associated with the job.