According to Olivier Blanchard, Europeans are more likely to use increases in real wages resulting from technological progress to increase _____, and Americans are more likely to use these increases in real wages to increase _____.

Question

Quizplus · Accepted Answer

Europeans tend to prioritize leisure time over additional consumption when real wages rise, while Americans often choose to increase their consumption of goods and services.

According to Olivier Blanchard, Europeans Are More Likely to Use