2. Economists often argue that wage rates reflect productivity. Yet, the wages of house painters have increased

Question:

2. Economists often argue that wage rates reflect productivity. Yet, the wages of house painters have increased nearly as rapidly as the national average, even though these workers use approximately the same production methods as they did fifty years ago. Can you explain why the wages of painters have risen substantially even though their productivity has changed so little?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: