How does the productivity in one industry lead to an increase in the unemployment rate within that industry if wages are unable to adjust downward?
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How does the productivity in one industry lead to an increase in the unemployment rate within that industry if wages are unable to adjust downward?
What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..
My confusion begins with understanding the concept of wages adjusting downward
Well what does that imply ?
I don't understand why the wage would ever adjust downward. And if it does, what does that mean?
I believe it should be productivity INCREASE. Then what happens, lets say new machinery to increase production. Look at the auto industry, robots mostly build cars now, not people.
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