If the Price Level Rose in Three Consecutive Years from 100

question 239

Multiple Choice

If the price level rose in three consecutive years from 100 to 120 to 140,then the annual inflation rate over those years would

• A)increase.
• B)remain the same.
• C)decrease.
• D)equal 20%.

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Definitions:

Fair Labor Standards Act

U.S. legislation enacted in 1938 to protect workers against unfair pay and employment practices, establishing minimum wage, overtime pay eligibility, and child labor standards.

Compa-ratio

A comparison ratio that measures an employee's salary relative to the median or midpoint of the market rate for their job.

Pay Range

The spectrum of compensation offered for different positions within a company, indicating the minimum and maximum pay for each role.

Market-pay Surveys

Studies or analyses performed to gather data on prevailing wage rates for different jobs in the market.