Wages in Baltonia are downwardly rigid. Which of the following will happen if a recession occurs in the country?

A) Employment will fall less than if wages were flexible.
B) Unemployment will fall less than if wages were flexible.
C) Employment will fall more than if wages were flexible.
D) Unemployment will fall more than if wages were flexible.

C

Economics

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The process by which union and management representatives negotiate a mutually agreeable contract specifying wages, benefits, and working conditions is called

a. collective bargaining b. mediation c. arbitration d. striking e. litigation

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