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Suppose that labor's share of total income is approximately constant over time, as Figure 3-5 in the text shows has been true of the U.S.
Suppose that labor's share of total income is approximately constant over time, as Figure 3-5 in the text shows has been true of the U.S. If labor's share of income is approximately constant, the real wage closely tracks labor productivity. O systematically diverges from labor productivity. is inversely related to labor productivity. is unrelated to labor productivity
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Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
