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2. Rich Industries is experiencing a significant decline in sales due to the recession. Since they are losing money, management cut wages by 10% rather
2. Rich Industries is experiencing a significant decline in sales due to the recession. Since they are losing money, management cut wages by 10% rather than lay off workers. What is this kind of change called, and is it allowed? Briefly explain why/why not
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
