Consider the following statements for the structured labour market. Which of the following statement(s) is/are correct?
1. These markets limit the movement of workers due to the institutional rules, policies, and procedures.
2. The hiring policies are often deciding factor in wage determination.
3. Edmund Phelps classified structured and unstructured labour markets.
A. Only 1
B. Both 2 and 3
C. Both 1 and 3
D. All of these
Answer: Option D
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