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The relative-wage explanation for the existence of downwardly sticky wages emphasizes ?

Economicsmedium
the contention that workers in one industry may be unwilling to accept a wage cut unless they know that workers in other industries are receiving similar cuts
Bemployment contracts that stipulate workers’ wages usually for a period of one to three years
Cunspoken agreements between workers and firms that firms will not cut wages
Dthe incentive that firms may have to hold wages above the market clearing rate

Correct Answer: A. the contention that workers in one industry may be unwilling to accept a wage cut unless they know that workers in other industries are receiving similar cuts

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