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Author Question: Suppose that air traffic controllers, whose wages have been locked into place by a two-year ... (Read 13 times)

kodithompson

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Question 1

Even though explicit contracts may lead to layoffs during recessions, explicit contracts may still be efficient because such contracts


◦ guarantee that only the least-productive workers will be laid off.
◦ reduce unemployment effects.
◦ reduce negotiation costs.
◦ will equitably spread the layoffs among junior and senior workers.

Question 2

Suppose that air traffic controllers, whose wages have been locked into place by a two-year contract, are laid off during a recession. This example is consistent with the


◦ social contract explanation of unemployment.
◦ explicit contract explanation of unemployment.
◦ efficiency wage explanation of unemployment.
◦ relative-wage explanation of unemployment.


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Marked as best answer by kodithompson on Apr 19, 2019

katara

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katara

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