In the 1970s, the United Automobile Workers greatly increased wage rates in the American auto industry. Referring

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In the 1970s, the United Automobile Workers greatly increased wage rates in the American auto industry. Referring to the output and substitution effects, explain how these high wages might have contributed to the decline in auto employment experienced by General Motors, Ford, and Chrysler in the 1980s.

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Contemporary Labor Economics

ISBN: 9780073375953

9th Edition

Authors: Campbell McConnell, Stanley Brue, David Macpherson

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