The growth of England's population from 2.6 million to 4.7 million between the early 16th and early 17th centuries indicates a period of rising worker productivity, which led to improved living standards and higher real wages.
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Historical data from England shows that between the early 1500s and the early 1600s, the population grew from approximately 2.6 million to 4.7 million. During the same period, a real wage index fell from a high of 91 to 57. Based on the principles of supply and demand, what is the most direct economic explanation for the relationship between these two trends?
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