In the U.S. over the past century, increases in labor supply have outpaced incre

ID: 2495025 • Letter: I

Question

In the U.S. over the past century, increases in labor

supply have outpaced increases in labor demand, causing the average wage rate to fall

supply have outpaced increases in labor demand, causing the average wage rate to rise

demand have outpaced increases in labor supply, causing the average wage rate to fall

demand have outpaced increases in labor supply, causing the average wage rate to rise

demand have occurred at the same pace as increases in labor supply, so the average wage rate has remained unchanged

supply have outpaced increases in labor demand, causing the average wage rate to fall

supply have outpaced increases in labor demand, causing the average wage rate to rise

demand have outpaced increases in labor supply, causing the average wage rate to fall

demand have outpaced increases in labor supply, causing the average wage rate to rise

demand have occurred at the same pace as increases in labor supply, so the average wage rate has remained unchanged

Explanation / Answer

In the U.S. over the past century, increases in labordemand have occurred at the same pace as increases in labor supply, so the average wage rate has more or less remained unchanged.

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In the U.S. over the past century, increases in labor supply have outpaced incre

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