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Alja [10]
3 years ago
8

What is inflation and how does it tend to have a negative impact on wage and salary workers?

Social Studies
1 answer:
Crazy boy [7]3 years ago
4 0

Answer:

Inflation refers to a situation where there is a general increase in prices for the goods and services sold in the market.

Explanation:

This is generally bad for wage and salary workers because the increase in their earning usually outpaced by the increase in prices. Overtime, This will cause a decrease in standard of living because the amount of products that they can afford using their earnings continue to decrease.

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Immigration - with all these new factory jobs being created the need for cheap almost expendable labor was required. Industries knew this and encouraged immigration; immigrants knew this and flocked to America to work the factories for a decent wage (at least to them). Native-born Americans didn't like this - immigrants took their jobs, and at lower wages!

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On the whole, the switch from an agrarian society (farming) to an industrial society (big factories in big cities) played havoc with American life. Hope this helps a lot by By Hugi445:)
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