Problem
"Sticky" Wages Imagine that you are 20 years older and married with two children. You have purchased a car, a house, and furniture on credit. Most of your income goes to pay bills. You work for a business where you are a member of a labor union. Your contract states that you will be paid $13.50 per hour. Yesterday your employer announced that its sales have declined 30 percent and that if workers don't agree to a 15 percent pay cut, the business will lay off 10 percent of its employees and may fail in the next year. Would you agree to the pay cut? Explain your answer. Why are wages "sticky"?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.