Let us assume, for the moment, that labor is not prepared to work for a lower money-wage and that a reduction in the existing level of money-wages would lead, through strikes or otherwise, to a withdrawal from the labor market of labor which is now employed. Does it follow from this that the existing level of real wages accurately measures the marginal disutility of labor Not necessarily. For, although a reduction in the existing money-wage would lead to a withdrawal of labor, it does not follow that a fall in the value of the existing money-wage in terms of wage-goods would do so, if it were due to a rise in the price of the latter. In other words, it may be the case that within a certain range the demand of labor is for a minimum money-wage and not for a minimum real wage. The classical school has tacitly assumed that this would involve no significant change in their theory. But this is not so. For if the supply of labor is not a function of real wages as its sole variable, the
A. a fail in the value of real wages would lead to a withdrawal of the labor from market of labor.
B. a reduction in the existing level of money-wages would lead to a withdrawal from the labor
C. the supply of labor is not a function of real wages
D. the demand of labor is only for a minimum money-wages
Let us assume, for the moment, that labor is not prepared to work for a lower money-wage and that a reduction in the existing level of money-wages would lead, through strikes or otherwise, to a withdrawal from the labor market of labor which is now employed. Does it follow from this that the existing level of real wages accurately measures the marginal disutility of labor Not necessarily. For, although a reduction in the existing money-wage would lead to a withdrawal of labor, it does not follow that a fall in the value of the existing money-wage in terms of wage-goods would do so, if it were due to a rise in the price of the latter. In other words, it may be the case that within a certain range the demand of labor is for a minimum money-wage and not for a minimum real wage. The classical school has tacitly assumed that this would involve no significant change in their theory. But this is not so. For if the supply of labor is not a function of real wages as its sole variable, the
A. a fall in the value of the existing money-wage would lead to a withdrawal of labor
B. a rise in the price of wage-goods would lead to a withdrawal of labor
C. the demand of labor is for a rise of existing money-wage
D. the demand of labor is for reduction in the value of real wages
Let us assume, for the moment, that
labor m not prepared to work for a lower money-wage and that a reduction in the
existing level of money-wages would lead, through strikes or otherwise, to a
withdrawal from the labor market of labor which is now employed. Does it follow
from this that the existing level of real wages accurately measures the marginal
disutility of labor Not necessarily. For, although a reduction in the existing
money-wage would lead to a withdrawal of labor, it does not follow that a fall
in the value of the existing money-wage in terms of wage-goods would do so, if
it were due to a rise in the price of the latter. In other words, it may be the
case that within a certain range the demand of labor is for a minimum money-wage
and not for a minimum real wage. The classical school has tacitly assumed that
this would A. a fall in the value of the existing money-wage would lead to a withdrawal of labor B. a rise in the price of wage-goods would lead to a withdrawal of labor C. the demand of labor is for a rise of existing money-wage D. the demand of labor is for reduction in the value of real wages [单项选择]Let us never negotiate out of fear, but let us never fear to negotiate.
A. litotes B. apophasis C. contrast D. irony [单项选择]Text 3
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