Imagine that you could travel back in time to another era, bringing with you all

Question

Imagine that you could travel back in time to another era, bringing with you all the knowledge you have from the modern age. Your wage in the older era might be higher because people with your knowledge were in short supply then. But why might your wage also be lower? 0 A, because in bygone eras, economics had not been invented yet O B. because in bygone eras, people were more productive than they are today ° C. because in bygone eras the economy was less productive overall D.no one would believe that you were from the future

Explanation / Answer

1. The right answer is option C. because in the bygone era the economy was less productive overall.

Explanation: In the bygone era, the overall production of the economy was low because of lack of factors of production. My own income would depend on the overall income of the economy. So, my wage could be lower than it is today.

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