The evidence shows that in 1860–1910
(a) population and annual hours worked grew more rapidly than did the employed labor force.
(b) population grew more rapidly than the labor force, but annual hours worked grew less rapidly.
(c) population grew less rapidly than did the employed labor force, and the work day shortened.
(d) population, productivity and the work day grew less rapidly than did the employed labor force.
(c)
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In the figure above, the dark triangle is the
A) consumer surplus. B) deadweight loss. C) producer surplus. D) total cost. E) economic profit.
Refer to the payoff matrix below. If Camp R Us announces that it will offer special financing, Happy Campers ________ believe Camp R Us as their incentives ________ align.
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) should; do not B) should; do
C) should not; do D) should not; do not
To measure the gains and losses from a tax on a good, economists use the tools of
a. macroeconomics. b. welfare economics. c. international-trade theory. d. circular-flow analysis.
How does the increasing use of MP3 players affect the market for compact discs?
A) The demand curve for compact discs shifts to the left. B) The supply curve for compact discs shifts to the left. C) The demand curve for compact discs shifts to the right. D) The supply curve for compact discs shifts to the right.