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David Ricardo's Iron Law of Wages Stated That

Question 77

Multiple Choice

David Ricardo's iron law of wages stated that


A) wages would rise as competition eliminated inefficient producers.
B) wages would decline as productivity drove prices down.
C) wages would stay low as workers bred more children.
D) wages would rise as workers organized into unions.
E) wages were irrelevant; only commodities like pig iron mattered.

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