Asked by Tesha Cherry on May 22, 2024
Verified
The rising general level of real wages in the United States has occurred because growing population has increased the supply of labor relative to the demand for it.
Real Wages
Wages adjusted for inflation, reflecting the true purchasing power of an individual’s income over time.
Growing Population
An increase in the number of individuals in a population, typically due to birth rates exceeding death rates.
- Identify the connection between labor expenses, salary levels, and competitive market forces.
Verified Answer
RS
Ruthson SeideMay 22, 2024
Final Answer :
False
Explanation :
The rising general level of real wages in the United States has not occurred due to the increasing supply of labor relative to demand. Instead, it has been a result of productivity growth, technological advances, and other factors that have increased the demand for labor.
Learning Objectives
- Identify the connection between labor expenses, salary levels, and competitive market forces.