Difficulties in Determining the Cyclical Pattern in Real Wage Rates

question 11

Multiple Choice

Difficulties in determining the cyclical pattern in real wage rates from aggregate data are primarily due to biases due to

• A) substitution behavior.
• B) substantial differences across different business cycles.
• C) variations in the composition of the labour force over the business cycle.
• D) changing policy responses to business cycles.
• E) variations in inflation and unemployment

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