Since 1981, the
A) real wage rate increased steadily.
B) nominal wage rate increased and the real wage rate did not change by very much.
C) real wage rate increased more than the nominal wage rate.
D) nominal wage rate increased at an uneven pace whereas the increase in the real wage rate was steady and constant.
E) nominal wage rate and real wage rate both decreased.
B
You might also like to view...
Of the three motives for holding money suggested by Keynes, which did he believe to be the most sensitive to interest rates?
A) the transactions motive B) the precautionary motive C) the speculative motive D) the altruistic motive
Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or any combination of both. Each minute of the instructor's time delivers the same amount of information as a minute of the movie
Which graph in the above figure best represents the isoquants for lectures in microeconomics when capital per day is on the vertical axis and labor per day is on the horizontal axis? A) Graph A B) Graph B C) Graph C D) Graph D
According to the text, The American Recovery and Reinvestment Act of 2009:
A. was successful. B. was unsuccessful. C. remains hotly debated whether it was successful or not. D. is known as the most effective legislation ever passed in U.S. history.
Figure 8.1 depicts demand and costs for a monopolistically competitive firm. At the profit-maximizing output level:
A. this firm is earning economic profits equal to zero. B. this firm is earning economic profits equal to Q1(P1 - AC1). C. this firm is earning economic profits equal to P1(Q1 - AC1). D. this firm is in long-run equilibrium.