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.

Question

Quizplus · Accepted Answer

Since 1948, the general trend has been that wages have increased at a faster rate than prices, leading to an overall increase in real wages. This means that, on average, the purchasing power of wages has increased over time.

Since 1948, the History of Real Wage Rates Generally Shows