Which statement best describes the growth rate of adult male real wages between 1820-1860 in the U.S.?
a. The growth rate was about the same as it was in pre-Revolutionary U.S.
b. The growth rate was negative.
c. The growth rate was more than 5 percent per year.
d. The growth rate was 1.2-1.6 percent per year.
d. The growth rate was 1.2-1.6 percent per year.
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The new growth theory asserts that profits are
A) temporary, because the discoveries that lead to profits are eventually used by all. B) an illusion, since costs are never fully covered. C) permanent, because physical activities can be replicated. D) not an essential component determining whether the economy grows or not. E) permanent, because they are derived from discoveries.
Why might a union find that attaining the goal of employing all its members and the goal of maximizing total union wage receipts to be incompatible objectives?
What will be an ideal response?
The primary goal of economics is to help people make money
a. True b. False Indicate whether the statement is true or false
Because marginal cost is always ________ in the short run, total variable cost always ________ when output decreases.
A. negative; increases B. negative; decreases C. positive; increases D. positive; decreases