Multiple Choice
In the U.S., between 1990 and 2007, capital stock and the level of technology increased dramatically. During the same period, employment and real wages rose. What do these set of events suggest?
A) The demand for labor increased by more than the increase in supply of labor over this period.
B) The demand for labor increased by less than the increase in supply of labor over this period.
C) The demand for labor decreased while the supply of labor increased over this period.
D) The demand for labor and the supply of labor decreased over this period.
Correct Answer:
Verified
Correct Answer:
Verified
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