Asked by Wahidah Mat Nasir on Jun 24, 2024
Verified
Which statement is false?
A) Differences in wage rates are partially explained by differences in productivity.
B) In general,when output per labor-hour increases,real wages rise by a larger percentage.
C) The demand for labor in a particular market is the sum of all the firms' MRP curves.
D) If you are earning $20,000 a year today and you were to earn $40,000 a year 10 years from now,your money wages have increaseD.
Wage Rates
The standard amount of compensation individuals receive in exchange for their labor, usually expressed per hour or year.
Productivity
The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
MRP Curves
Marginal Revenue Product curves, which depict the additional revenue generated by employing one more unit of a resource, such as labor or capital.
- Assess the influence of worldwide integration and shifts in occupational areas on income rates and fiscal disparities.
- Comprehend the principles of marginal revenue product and its impact on the demand for labor.
Verified Answer
ZK
Zybrea KnightJul 01, 2024
Final Answer :
B
Explanation :
In general, when output per labor-hour increases, real wages do not necessarily rise by a larger percentage. The relationship between productivity and wages is complex and multifaceted. Other factors, such as the supply of labor, can also influence wage rates. Therefore, statement B is false. Statements A, C, and D are true.
Learning Objectives
- Assess the influence of worldwide integration and shifts in occupational areas on income rates and fiscal disparities.
- Comprehend the principles of marginal revenue product and its impact on the demand for labor.