Solved

According to the Classical Economists' "Iron Law of Wages

Question 20

Multiple Choice

According to the classical economists' "iron law of wages,"


A) if a worker received more than a subsistence wage, he/she would have more children who would consume the surplus.
B) with every rise in production, wages must also rise.
C) once workers' wages fell below the level needed for subsistence, they would strike.
D) every wage increase must automatically benefit the employer, since additional purchasing power would be created.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions