According to 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

Blanchard argues that Europeans are more likely to value leisure time and will use increases in real wages resulting from technological progress to increase their leisure time (_,), while Americans are more likely to value consumption of goods and services and will use increases in real wages resulting from technological progress to increase their consumption of these goods and services, with less emphasis on leisure time. Therefore, option C, hours of leisure; consumption of goods and services, is the best choice.

According to Blanchard,Europeans Are More Likely to Use Increases in Real