Image upload answer is not allowed please Question 1Productivity growth and hourly compensation growth, 1948-2020Cumulative 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%15010050Chart Data196019802000117.5%2020Notes: Data are for compensation (wages and benefits) of production/nonsupervisory workers in the private sectorand 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 1980.00Increases 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 workersproduced.Income inequality increased significantly during the 1948-1979 period.

Starting in the late 1970s policymakers began dismantling all the policy bulwarks helping to ensure…

Answered: Question 1 Productivity growth and…

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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