The Price Index Was 136 in One Year and 142

question 166

Multiple Choice

The price index was 136 in one year and 142 in the next year.What was the inflation rate between the two years?

• A)1.04 percent
• B)4.41 percent
• C)6.00 percent
• D)42.00 percent

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Definitions:

Featherbedding

A labor practice where unions require employers to hire more workers than necessary for a particular task, often to protect jobs.

Single Unionism

A labor relations approach where only one union represents all workers within a workplace or industry, which aims to streamline negotiation processes and reduce inter-union competition.

Single Occupation

A specific job or profession characterized by a unique set of skills or qualifications, often within a wider industry or sector.

Representation Model

A framework in labor relations where employees choose individuals or groups, such as unions, to negotiate and communicate with employers on their behalf.