If Wages Grew 3

question 21

Multiple Choice

If wages grew 3.15% in 2019, but inflation was 2.75%, what was the approximate real increase in wages?

• A).10%
• B).20%
• C).30%
• D).40%
• E).50%

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Definitions:

Sales Forecast

The total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.

Marketing Efforts

Activities and strategies employed by companies to promote and sell their products or services to target customers.

Patronage

The support or regular business given to a store, restaurant, or public establishment by customers.