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?

• A)$15.30
• B)$16.09
• C)$16.45
• D)$16.68

Describe the activities and responsibilities of different levels of managers within organizations.

Comprehend the concept of productivity and its relationship to efficiency and effectiveness.

Explain the importance of social networking for career advancement and job searches.

Understand the role of non-profit and business organizations in adding value and their impact on society.

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Definitions:

Trade Balance

The gap between what a country sells to and buys from other countries in terms of goods and services.

Merchandise

Goods that are bought and sold in commerce, particularly those related to retail trade.

Services

Intangible products that are consumed at the point of sale and do not result in ownership of physical goods.

Net Exports

The balance of a nation's trade, measured by subtracting its imports from its exports of goods and services.