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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 19, Problem 8DQ
Textbook Problem
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Since about 1980, GDP per capita (i.e., the average real income per person) in the United States has risen fairly substantially. Yet real wages have failed to rise. What do you think may explain this phenomenon?

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