To increase your standard of living, your wages must___.

Question

Social Studies

Jimenez

2 April, 10:45

To increase your standard of living, your wages must___.

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Aniyah Nielsen · Answer 1

To increase your standard of living, your wages must rise faster than the inflation rate. It should not only increase in its nominal value. Wages are proportional to labor productivity. It means that when productivity increases, wage also becomes higher.