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    General level of wages is higher in the United States

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    Explain why the general level of wages is higher in the United States and other industrially advanced countries. What is the single most important single factor underlying the long-run increase in average real-wage rates in the United States?

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    The reason that the general level of wages is higher in the US and other industrially advanced countries is that the standard of living is higher in these countries. People have ...

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    This solution examines the general level of wages in the United States.

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