In long-term job attachments, a worker's wage:
a. always exceeds his productivity.
b. always falls below his productivity.
c. is lower than his productivity at the beginning, then equals it, and then exceeds the same.
d. is higher than his productivity at the beginning, then equals it, and then falls below the same.
C
You might also like to view...
Classical growth theory predicts that increases in
A) competition increase economic growth. B) real GDP per person are temporary and not sustainable. C) resources permanently increase real GDP per person. D) real GDP per person are permanent and sustainable. E) resources permanently increase labor productivity.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen asĀ
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward