Which of the Following Would Explain Wage Rigidities

question 81

Multiple Choice

Which of the following would explain wage rigidities?

• A)Inflexible long-term contracts
• B)Inflation
• C)The liquidity of financial assets
• D)The reluctance of firms to lay off workers
• E)High worker productivity

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Definitions:

Oral Contract

A legally binding agreement made through spoken words and commitments rather than in writing.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the party being charged to be enforceable.

Statute of Frauds

The Statute of Frauds is a legal principle that requires certain types of contracts to be written and signed to be enforceable.

Confirmation

The act of validating or verifying that something is true or accurate, often through official or formal acknowledgment.