The real wage paid to American labor has
A) been moving steadily higher over the past 20 years despite two energy price shocks in the 1970s.
B) held remarkably steady over the past 20 years, with the 1982 level almost identical to the 1973 level.
C) suffered two energy-related periods of decline over the past 20 years but now is higher than it was in 1973.
D) remained below 1973 levels since the first oil shock in 1973.
E) none of the above.
Correct Answer:
Verified
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