Which of the Following Would Not Be a Prediction from Economic

question 232

Multiple Choice

Which of the following would not be a prediction from economic labor theory regarding the wage of a field hand?

• A)Wages would increase as the price of wheat increased.
• B)Wages would decrease as interest rates rose.
• C)Wages would increase with the imposition of restrictions on immigration .
• D)Wages would decrease when the wheat thrasher increased harvesting productivity.

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Definitions:

Private Enterprise System

An economic system where private individuals or businesses own capital goods and the production of goods and services is based on supply and demand in the general market.

Intellectual Inputs

Contributions of knowledge, ideas, expertise, and intellectual property to a project, organization, or production process.

Physical Labor

Physical labor refers to work that requires physical effort or manual tasks as opposed to mental work.

Industrial Revolution

A period of major industrialization from the late 18th to early 19th centuries that transformed primarily agrarian, rural societies into industrialized, urban ones.