Three main ideas help explain why the prices of some services, such as education, health care, and the performing arts, continue to rise relative to those of other goods or services. Fill in the following table by selecting the missing idea.Which option fits the blank the best?1. ____________________________________a. Real wages in different occupations must rise at similar rates in the long run,b. real wages in different occupations can rise at varying rates in the long run,c. only real wages in similar occupations must rise at similar rates in the long run===========================================2. Real wages tend to rise at the same rate as labor productivity.3. Productivity cannot or does not grow for certain services. Using these three ideas, indicate which of the following statements about high school teachers and factory workers is true in accordance with the cost disease of the personal services? Check all that apply. A. Wages of high school teachers will rise at a faster rate than the rate of productivity growth. B. Because high school teachers are no more productive than they used to be but factory workers are, the real wage of factory workers must grow faster than that of high school teachers. C. The services of high school teachers will become relatively more expensive than those of factory workers. Three main ideas help explain why the prices of some services, such as education, health care, and the performing arts, continue to rise relative tothose of other goods or services. Fill in the following table by selecting the missing idea.1.2.Real wages in different occupations must rise at similar rates in the long run.3. АReal wages in different occupations can rise at varying rates in the long run.UsinOnly real wages in similar occupations must rise at similar rates in the long run.teachers and factory workers is true in accordance with thecostO wages of high school teachers will rise at a faster rate than the rate of productivity growth.O Because high school teachers are no more productive than they used to be but factory workers are, the real wage of factory workersmust grow faster than that of high school teachers.O The services of high school teachers will become relatively more expensive than those of factory workers. Three main ideas help explain why the prices of some services, such as education, health care, and the performing arts, continue to rise relative tothose of other goods or services. Fill in the following table by selecting the missing idea.1.2. Real wages tend to rise at the same rate as labor productivity.3. Productivity cannot or does not grow for certain services.Using these three ideas, indicate which of the following statements about high school teachers and factory workers is true in accordance with thecost disease of the personal services? Check all that apply.O wages of high school teachers will rise at a faster rate than the rate of productivity growth.O Because high school teachers are no more productive than they used to be but factory workers are, the real wage of factory workersmust grow faster than that of high school teachers.O The services of high school teachers willI become relatively more expensive than those of factory workers.

Hi. Since there are multiple questions, we will solve only the first one. Prices of certain services…

Answered: Three main ideas help explain why the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Three main ideas help explain why the prices of some services, such as education, health care, and the performing arts, continue to rise relative to those of other goods or services. Fill in the following table by selecting the missing idea.

Which option fits the blank the best?

1. ____________________________________

a. Real wages in different occupations must rise at similar rates in the long run,

b. real wages in different occupations can rise at varying rates in the long run,

c. only real wages in similar occupations must rise at similar rates in the long run

===========================================

2. Real wages tend to rise at the same rate as labor productivity.

3. Productivity cannot or does not grow for certain services.

Using these three ideas, indicate which of the following statements about high school teachers and factory workers is true in accordance with the cost disease of the personal services? Check all that apply.

A. Wages of high school teachers will rise at a faster rate than the rate of productivity growth.

B. Because high school teachers are no more productive than they used to be but factory workers are, the real wage of factory workers must grow faster than that of high school teachers.

C. The services of high school teachers will become relatively more expensive than those of factory workers.

Three main ideas help explain why the prices of some services, such as education, health care, and the performing arts, continue to rise relative to
those of other goods or services. Fill in the following table by selecting the missing idea.
1.
2.
Real wages in different occupations must rise at similar rates in the long run.
3. А
Real wages in different occupations can rise at varying rates in the long run.
Usin
Only real wages in similar occupations must rise at similar rates in the long run.
teachers and factory workers is true in accordance with the
cost
O wages of high school teachers will rise at a faster rate than the rate of productivity growth.
O Because high school teachers are no more productive than they used to be but factory workers are, the real wage of factory workers
must grow faster than that of high school teachers.
O The services of high school teachers will become relatively more expensive than those of factory workers.

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