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A Labor Contract Provides for a First-Year Wage of $15

question 96

Multiple Choice

A labor contract provides for a first-year wage of $15 per hour, and specifies that the real wage will rise by 2 percent in the second year of the contract. The CPI is 1.00 in the first year and 1.09 in the second year. What dollar wage must be paid in the second year?


Definitions:

Phone Ringing

The sound made by a telephone to alert the recipient of an incoming call.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, emphasizing the influence of consequences on behavior.

Reinforcement

In behavioral psychology, a consequence that strengthens an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Punishment

A process that decreases the likelihood of a behavior being repeated by applying an adverse stimulus or removing a rewarding stimulus following the behavior.

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