Real wages have fallen since 1973 for all the following reasons except
A. millions of high paying manufacturing jobs have migrated to low wage countries.
B. the slowing down of productivity growth.
C. the switch from high paying manufacturing jobs to lower paying service sector jobs.
D. All of these choices are reasons.
D. All of these choices are reasons.
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In an oligopoly, the price effect is:
A. the increase in price from lowering the quantity sold. B. the decrease in total revenue that occurs because the increase in quantity will push the market price down. C. the increase in total revenue due to the money brought in by the sale of additional units. D. the increase in output that comes from raising the price.
For country A, an import is a good produced in:
A. country B and purchased by residents of country B. B. country B and purchased by residents of country A. C. country A and purchased by residents of country B. D. country A and purchased by residents of country A.
The exchange rate between currencies of different countries is controlled primarily by supply and demand in currency markets
Indicate whether the statement is true or false
The difference between public goods and private goods rests on technical considerations of exclusion of use and not political philosophy.
Answer the following statement true (T) or false (F)