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According to Adam Smith, the long - run natural wage rate is the minimum subsistence wage that workers require before they are willing to have
According to Adam Smith,
the longrun natural wage rate is the minimum subsistence wage that workers require before they are willing to have children.
the shortrun wage rate will always be above the longrun wage.
the shortrun wage rate will always equal the longrun wage.
the rent on the land determines the longrun wage rate.
the shortrun wage rate will always be below the longrun wage.
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