Suppose That a Labor Union Leader Is Trying to Bargain

question 131

Multiple Choice

Suppose that a labor union leader is trying to bargain for an increase in union workers' real wages of 5 percent.If he expected the price level to rise at a rate of 3 percent this year,how much would nominal wages need to increase for him to accomplish his objective?

• A) 2 percent
• B) 3 percent
• C) 5 percent
• D) 8 percent
• E) 15 percent

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