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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
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
If demand outpaces supply, there is upward pressure on wages.
If demand outpaces supply, there is upward pressure on wages.
True
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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