From 1960 to 2010, inflation-adjusted wages increased by 87 percent in the U.S. As a result, firms reduced the amount of labor they employed by nearly 15 percent.

Question

Quizplus · Accepted Answer

This statement is false. It is unlikely for inflation-adjusted wages to increase by 87% and for firms to reduce the amount of labor they employ by nearly 15%. In fact, during this time period, the U.S. labor force grew significantly and employment rates were generally on the rise.

From 1960 to 2010, Inflation-Adjusted Wages Increased by 87 Percent