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Which of the following statements is true? Question 16 options: Firms usually tend to cut wages than lay off people to cut costs. Firms tend

Which of the following statements is true? Question 16 options:

Firms usually tend to cut wages than lay off people to cut costs.

Firms tend to increase wages in periods of contracting economic activity to boost morale.

Firms usually tend to lay off workers than cut wages to reduce costs.

Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity.

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