If Inflation Is Increasing at 3 Percent Per Year, and Your

question 98

Multiple Choice

If inflation is increasing at 3 percent per year, and your salary increases at the same rate, how long will it take your salary to double?

• A) 30 years
• B) 24 years
• C) 18 years
• D) 12 years
• E) 6 years

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Definitions:

Unionization Rate

The percentage of workers in a particular sector or economy who are members of labor unions.

Social Workers

Professionals dedicated to helping people solve and cope with problems in their everyday lives, often working in communities, schools, hospitals, and mental health clinics.

Protective Service Workers

denotes individuals employed in sectors aimed at ensuring public safety and protection, such as police officers, firefighters, and security guards.

Production Workers

Employees directly involved in the manufacturing process of goods, including operating machinery and assembling products.