Peasants Kett's Glorious Revolution rebellion rebellion 20 1380 1440 1560 1740 1500 1620 1680 1800 or more: cording to the Malthusian model, the fall in the population due to the bubonic plague would have I rease in the average productivity of workers, causing the observed rise in the real wage post-plag e doubling and halving of the real wage index over 250 years from around 1350 cannot be explain Ithusian model. e fall in the unskilled workers' share of total output in the 17th and 18th centuries was due to the fa rage product of labour.

Peasants Kett's Glorious Revolution rebellion rebellion 20 1380 1440 1560 1740 1500 1620 1680 1800 or more: cording to the Malthusian model, the fall in the population due to the bubonic plague would have I rease in the average productivity of workers, causing the observed rise in the real wage post-plag e doubling and halving of the real wage index over 250 years from around 1350 cannot be explain Ithusian model. e fall in the unskilled workers' share of total output in the 17th and 18th centuries was due to the fa rage product of labour.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 20RQ: Why is there unemployment in a labor market with flexible wages?

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Question

Look at this graph of real wage index in England between 1260 and 1800. Consider also that, in the bubonic plague of
1348 and 1351, between one quarter and one third of Europe's population died.
800
700
Bubonic
plague
Statute of
600
Labourers
s00
400
140
300
200
100
1260 1348
1800
2000
80
60
40
Peasants
rebellion
Kett's
rebellion
Glorious
Revolution
20
1260
1320
1380
1440
1500
1560
1620
1680
1740
1800
Select one or more:
a. According to the Malthusian model, the fall in the population due to the bubonic plague would have led to an
increase in the average productivity of workers, causing the observed rise in the real wage post-plague.
b. The doubling and halving of the real wage index over 250 years from around 1350 cannot be explained by the
Malthusian model.
c. The fall in the unskilled workers' share of total output in the 17th and 18th centuries was due to the fall in their
average product of labour.
d. In the Malthusian model, the rise in real wages from 1800 onwards, at the same time as the rise in population,
could be explained by continuous technological improvement.
Real wage index (1850=10
(00T-OSRT) xapu asem jeay

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