Multiple Choice
The "iron law of wages" associated with Malthus and Ricardo held that
A) the natural price of labor was rising due to industrialization.
B) if workers are paid more than subsistence wages, they will become more industrious.
C) an increased population of workers no longer affected the price of labor because industry required an endless supply of workers.
D) like all natural laws, the "iron law of wages" cannot be changed.
E) all of the above
Correct Answer:
Verified
Correct Answer:
Verified
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