Which of the following observations concerning labor cost patterns over the last century is true?
A)Average real wages started rising after 1973.
B)Hourly compensation rates have fallen dramatically.
C)Compensation growth slowed markedly.
D)Average hours worked per week have increased by almost 50 percent.

Question

Quizplus · Accepted Answer

Compensation growth slowed markedly, meaning that although wages and salaries continued to increase, the rate of increase slowed down compared to previous decades. This is supported by data showing that real wages (adjusted for inflation) started rising more slowly after the 1970s. Options A, B, and D are all incorrect.

Which of the Following Observations Concerning Labor Cost Patterns Over