The Long-Run Trend of Real Wages

question 26

Multiple Choice

The long-run trend of real wages

• A)cannot be determined from available data on nominal wages and the price level.
• B)has been downward because the price level has risen faster than nominal wages.
• C)has been upward.
• D)has been downward because labor's share of the domestic income has fallen.

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Definitions:

Types

Distinct and identifiable classes or categories into which things or concepts can be grouped based on shared characteristics or qualities.

Vendor-Managed Inventory

A business model where the supplier takes responsibility for managing inventory levels for the retailer.

Solectron

A former global electronics manufacturing company for original equipment manufacturers that was acquired by Flextronics International Ltd. in 2007.

Materials Handing

A field concerning the handling, control, and storage of materials and products throughout manufacturing, warehousing, distribution, consumption, and disposal processes.