Which of the Following Is Not Likely to Have Contributed

question 88

Multiple Choice

Which of the following is not likely to have contributed to the stagnating real wage levels experienced in the 1970s in the U.S.?

• A)Higher prices for oil,an input in production,led to a decrease in the demand for labor.
• B)The working age population increased and increased the supply of labor in the economy.
• C)The labor force participation rate of females increased sharply in the 1970s.
• D)The imports of consumer goods from Japan led to a decline in domestic production.

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Definitions:

Productive Efficiency

Productive efficiency occurs when an economy or entity produces goods and services at the lowest possible cost, utilizing all available resources without waste.

MB = MC

The principle that optimal decision-making is achieved when the marginal benefit equals the marginal cost.

Unintended Consequences

Outcomes of a policy or action that were not foreseen or intended, often contrary to the original objectives.

Allocating Resources

The process of distributing available resources among various competing needs or projects in an efficient manner.