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Some Argue That According to Implicit Contract Theory,unemployment Is Really

Question 51

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Some argue that according to implicit contract theory,unemployment is really voluntary since


A) workers enter freely into these agreements, recognizing that they are accepting the risk of unemployment.
B) firms agree not to lay off anyone if the economy should turn down.
C) under such contracts wages are tied to a firm's profits, minimizing involuntary unemployment.
D) the importance of seniority in hiring practices is minimized.
E) under such contracts wage rates are tied directly to the market demand and supply conditions.

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