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

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Blanchard states that Europeans are more likely to use increases in real wages resulting from technological progress to increase hours of leisure, while Americans are more likely to use these increases in real wages to increase consumption of goods and services. This is based on cultural and societal differences between the two regions.

According to Blanchard, Europeans Are More Likely to Use Increases