Author Question: David Ricardo's iron law of wages stated that A) wages would rise as competition eliminated ... (Read 95 times)

rachel9 · **on:** Sep 13, 2019

Question 1

The foremost social group embracing liberalism was made up by

A) factory workers.
B) the industrial middle class.
C) radical aristocrats.
D) army officers.
E) the landed gentry.

Question 2

David Ricardo's iron law of wages stated that

A) wages would rise as competition eliminated inefficient producers.
B) wages would decline as productivity drove prices down.
C) wages would fall when the population of workers increased.
D) wages would rise as workers organized into unions.
E) wages were irrelevant; only commodities like pig iron mattered.