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Question 1 Productivity growth and hourly compensation growth, 1948-2020 Cumulative change since 1948 (index 1979-100) 200% 1948-1979: 1979-2020: Productivity: +118.4% Productivity: +61.8% Compensation: +107.5% Compensation: +17.5% 161.8% 150 100 50 Chart Data 1960 1980 2000 117.5% 2020 Notes: Data are for compensation (wages and benefits) of production/nonsupervisory workers in the private sector and net productivity of the total economy. "Net productivity" is the growth of output of goods and services less de- preciation per hour worked. The figure above indicates that: ○ The wage share of income has been decreasing significantly since about 1980. 00 Increases in union membership increased income inequality during the 1950s and 1960s. Capitalists broke the law during the 1980s by paying workers less than the value the workers produced. Income inequality increased significantly during the 1948-1979 period.

Question 1 Productivity growth and hourly compensation growth, 1948-2020 Cumulative change since 1948 (index 1979-100) 200% 1948-1979: 1979-2020: Productivity: +118.4% Productivity: +61.8% Compensation: +107.5% Compensation: +17.5% 161.8% 150 100 50 Chart Data 1960 1980 2000 117.5% 2020 Notes: Data are for compensation (wages and benefits) of production/nonsupervisory workers in the private sector and net productivity of the total economy. "Net productivity" is the growth of output of goods and services less de- preciation per hour worked. The figure above indicates that: ○ The wage share of income has been decreasing significantly since about 1980. 00 Increases in union membership increased income inequality during the 1950s and 1960s. Capitalists broke the law during the 1980s by paying workers less than the value the workers produced. Income inequality increased significantly during the 1948-1979 period.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter14: Labor Markets And Income
Section: Chapter Questions
Problem 27RQ: Describe how the earnings gap between men and women has evolved in recent decades.
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Question 1 Productivity growth and hourly compensation growth, 1948-2020 Cumulative change since 1948 (index 1979-100) 200% 1948-1979: 1979-2020: Productivity: +118.4% Productivity: +61.8% Compensation: +107.5% Compensation: +17.5% 161.8% 150 100 50 Chart Data 1960 1980 2000 117.5% 2020 Notes: Data are for compensation (wages and benefits) of production/nonsupervisory workers in the private sector and net productivity of the total economy. "Net productivity" is the growth of output of goods and services less de- preciation per hour worked. The figure above indicates that: ○ The wage share of income has been decreasing significantly since about 1980. 00 Increases in union membership increased income inequality during the 1950s and 1960s. Capitalists broke the law during the 1980s by paying workers less than the value the workers produced. Income inequality increased significantly during the 1948-1979 period.
Transcribed Image Text:Question 1 Productivity growth and hourly compensation growth, 1948-2020 Cumulative change since 1948 (index 1979-100) 200% 1948-1979: 1979-2020: Productivity: +118.4% Productivity: +61.8% Compensation: +107.5% Compensation: +17.5% 161.8% 150 100 50 Chart Data 1960 1980 2000 117.5% 2020 Notes: Data are for compensation (wages and benefits) of production/nonsupervisory workers in the private sector and net productivity of the total economy. "Net productivity" is the growth of output of goods and services less de- preciation per hour worked. The figure above indicates that: ○ The wage share of income has been decreasing significantly since about 1980. 00 Increases in union membership increased income inequality during the 1950s and 1960s. Capitalists broke the law during the 1980s by paying workers less than the value the workers produced. Income inequality increased significantly during the 1948-1979 period.
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