Which of the events raise the real wage rate and which of the events lower the real wage rate?

Use the following list of events that occur one at a time to work Problem.

• The Middle East cuts supplies of oil to the United States.
• The New York Yankees win the World Series.
• U.S. labor unions negotiate wage hikes that affect all workers.
• A huge scientific breakthrough doubles the output that an additional hour of U.S. labor can produce.
• Migration to the United States increases the working-age population.