Some companies raise their workers pay by giving raises, but others prefer to give one-time bonuses instead. Think abouttwo steel mills facing a big two-year drop in steel demand: In one steel mill, workers have received pay raises every year for five years. In the second mill, most of the pay increases have occured through big bonuses at the end of each year. Which steel mill will probably keep more jobs during the two-year downturn? Why? Would you draw a perfectly vertical curve, a curve with a positive slope, or a curve with a negative slope?

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