Which of the following is the reason behind the slow growth in U.S. incomes during the 1970s and 1980s? Minimum wage laws were not in place to protect the livelihoods of workers. There was a slowdown in productivity growth. Labor unions were relatively weak. The United States experienced an increase in competition from abroad.
Which of the following is the reason behind the slow growth in U.S. incomes during the 1970s and 1980s? Minimum wage laws were not in place to protect the livelihoods of workers. There was a slowdown in productivity growth. Labor unions were relatively weak. The United States experienced an increase in competition from abroad.
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN:9781305280601
Author:William J. Baumol, Alan S. Blinder
Publisher:William J. Baumol, Alan S. Blinder
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 7DQ
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![Which of the following is the reason behind the slow
growth in U.S. incomes during the 1970s and 1980s?
Minimum - wage laws were not in place to protect the
livelihoods of workers. There was a slowdown in
productivity growth. Labor unions were relatively weak.
The United States experienced an increase in
competition from abroad.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9855cb7a-5db1-4294-9de9-4e629d51bb96%2F15bc86c2-4230-4e0c-a19f-4a961e2a3995%2Fd0icu1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following is the reason behind the slow
growth in U.S. incomes during the 1970s and 1980s?
Minimum - wage laws were not in place to protect the
livelihoods of workers. There was a slowdown in
productivity growth. Labor unions were relatively weak.
The United States experienced an increase in
competition from abroad.
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