Ultimately,the source of growth in real wages is the growth in labor productivity.

Question

Quizplus · Accepted Answer

Real wages refer to the purchasing power of wages, meaning the amount of goods and services that can be bought with a certain amount of money. Labor productivity refers to the amount of output produced per unit of labor input. As productivity increases, more goods and services can be produced in a given amount of time, leading to an increase in real wages. Therefore, the source of growth in real wages is the growth in labor productivity.

Ultimately,the Source of Growth in Real Wages Is the Growth