Contingency Plans Should Be Developed Only After a Decision Has

question 2

True/False

Contingency plans should be developed only after a decision has been made and implemented.

---

Definitions:

Real Wage

The purchasing power of wages, considering the effect of inflation, representing the quantity of goods and services that can be bought with those wages.

Demand-Enhancing Union

A labor union strategy aimed at increasing demand for the products and services produced by its members.

Wage Rate

The standard amount of compensation received by a worker per unit of time (hour, day, etc.) for their labor.

Labor Productivity

A measure of economic performance that calculates the amount of goods and services produced per unit of labor.