Since 1948, the history of real wage rates generally shows that
A. prices and wages have risen at the same rate.
B. prices have risen at a slower rate than wages.
C. prices have risen faster than wages.
D. real wages have remained constant over the period.
Answer: B
Economics
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Which of the following statements is true?
A. "Extreme poverty" refers to an income of less than $2 per day. B. U.S. GDP per capita is five times larger than the world average. C. The poorest nations of the world have average incomes of $5,000. D. According to world standards, 12 percent of Americans are poor.
Economics
How much people plan to consume at various levels of disposable income is known as
A. dissaving. B. the consumption function. C. investment. D. aggregate demand.
Economics