In the U.S.over the past century,increases in labor
A) supply have outpaced increases in labor demand,causing the average wage rate to fall
B) supply have outpaced increases in labor demand,causing the average wage rate to rise
C) demand have outpaced increases in labor supply,causing the average wage rate to fall
D) demand have outpaced increases in labor supply,causing the average wage rate to rise
E) demand have occurred at the same pace as increases in labor supply,so the average wage rate has remained unchanged
Correct Answer:
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Q17: Thomas Malthus argued that population grows geometrically
Q18: Q19: If labor supply increases,the wage rate increases. Q20: Growth in employment can result from either Q21: Government policies designed to increase the skills Q23: Which of the following could shift the Q24: If both labor demand and labor supply Q25: If labor demand increases,the market wage rate Q26: If you observed the wage rate decreasing Q27: If labor supply and labor demand both
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