The long-run trend of real wages

A) cannot be determined from available data on nominal wages and the price level.
B) has been downward because the price level has risen faster than nominal wages.
C) has been upward.
D) has been downward because labor's share of the domestic income has fallen.

Long-Run Trend

A sustained movement in data over a long period, often used in the context of economic performance or growth rates.

Real Wages

Real wages refer to the purchasing power of wages, considering the effects of inflation or deflation, indicating the amount of goods and services that can be bought with a given amount of nominal wages.

Domestic Income

Refers to the total income earned by individuals and businesses within a country's borders, including wages, salaries, and investment income.