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Explain Henry Ford's Family Wage

question 11

Essay

Explain Henry Ford's family wage.How did economists and politicians view women's wages in Ford's time? Why do people today who believe in gender equality see the family wage as problematic?


Definitions:

GDP Deflator

A measure that reflects the prices of all goods and services produced domestically, accounting for inflation within a country's economy.

Base Year

A reference year against which economic growth, price changes, or other data is compared in indexes or other statistical measures.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to deflate nominal GDP to real GDP.

Percentage Change

A mathematical calculation that represents the degree of change over time, expressed as a percent, indicating how much something has increased or decreased.

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