If Your Salary Increased by 8 Percent and Prices Increased

question 183

Multiple Choice

If your salary increased by 8 percent and prices increased by 4 percent,how much did your real wage rise by?

• A) 3 percent
• B) 4 percent
• C) 6 percent
• D) 8 percent

Identify the types and causes of unemployment related to wage settings above the equilibrium.

Understand the legal and economic instruments, such as right-to-work laws and strikes, that influence the operation and power of unions.

Evaluate the arguments for and against the existence of unions and their effects on labor market efficiency and equity.

Understand the concept and implications of efficiency wages in the context of labor productivity and firm practices.