In the 1850s, the growth rate of real wages in U.S. manufacturing slowed to nearly zero because
a. the demand for manufacturing labor and the supply of manufacturing labor increased by approximately the same amount during this period.
b. the demand for manufacturing labor and the supply of manufacturing labor decreased by approximately the same amount during this period.
c. the demand for manufacturing labor increased more rapidly than the supply of manufacturing labor during this period.
d. the demand for manufacturing labor increased while the supply of manufacturing labor decreased during this period.
a. the demand for manufacturing labor and the supply of manufacturing labor increased by approximately the same amount during this period.
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Complaints about predatory pricing usually originate with
A) competitors. B) consumers. C) economists. D) government regulators. E) suppliers.
If the Fed reduces the required reserve ratio,
a. excess reserves will increase. b. excess reserves will decrease. c. total reserves will increase. d. total reserves will decrease.
Suppose you had the choice of attending two universities. University A pays all of its professors the same wage and awards the same raises. University B pays each professor according to market wages and productivity. Which university would you rather attend and why?
Why might government expenditures be more appropriate than tax cuts to counter recessions? Is there any evidence for this thinking?