Asked by Angelique Cobilla on Jun 12, 2024
Verified
If labor's share of the income paid to American resource suppliers is broadly defined as the sum of wages and salaries and proprietors' income,we can say that labor's relative share has:
A) remained approximately constant since 1900.
B) increased dramatically at the expense of capitalist income.
C) declined by about one-third since 1900.
D) decreased because of the decline of unionism.
Proprietors' Income
The income earned by the owners of unincorporated businesses.
Capitalist Income
The earnings from capital investment, including profits, interest, and dividends, attributed to owners in a capitalist economy.
Unionism
The principles, practices, or the system of forming and belonging to a labor union to protect and further the rights and interests of workers.
- Become familiar with the historic distributions of earnings among laborers and those who hold capital.
Verified Answer
YS
Yogesh SachdevaJun 14, 2024
Final Answer :
A
Explanation :
Labor's share of income, when broadly defined to include both wages and salaries and proprietors' income, has remained relatively constant since 1900. This measure accounts for the total income paid to workers and self-employed individuals, showing stability over time despite fluctuations in the economy and changes in the labor market.
Learning Objectives
- Become familiar with the historic distributions of earnings among laborers and those who hold capital.