Which of the Following Statements Accurately Characterizes Pre-1820 Wages

question 21

Multiple Choice

Which of the following statements accurately characterizes pre-1820 wages?

• A) Skilled workers in England received higher wages than U.S. skilled workers.
• B) The wage premiums paid to skilled workers in the U.S. were typically greater than those paid in England.
• C) Early immigration of primarily skilled workers tended to reduce the wages of skilled labor in the U.S..
• D) The pull on unskilled labor to enter agricultural pursuits led to lower wages for unskilled workers in the manufacturing sector.

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Definitions:

Income Statement

An account documenting an organization's economic activity, showing income, outlays, and net gains or deficits over a distinct timeframe.

Net Operating Income

This refers to a company's income after all operating expenses, but before interest and taxes, are subtracted from total revenue.

Contribution Format

An income statement format that separates fixed costs from variable costs, making it easier to see the contribution margin.

Income Statement

An account that displays the earnings, costs, and overall profit of a business for a given period.