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Questions and Answers
According to macroeconomic theory, wage growth lags productivity growth when the supply of labor has outpaced demand.
According to macroeconomic theory, wage growth lags productivity growth when the supply of labor has outpaced demand.
True (A)
When there is downward pressure on wages, workers have more bargaining power.
When there is downward pressure on wages, workers have more bargaining power.
False (B)
If demand outpaces supply, there is upward pressure on wages.
If demand outpaces supply, there is upward pressure on wages.
True (A)
Employers have their pick of the labor force when there is downward pressure on wages.
Employers have their pick of the labor force when there is downward pressure on wages.
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