John Expects to Get a Raise Equal to the Increase

question 152

Multiple Choice

John expects to get a raise equal to the increase in the consumer price index (CPI) . The CPI has gone from 160 to 164. If John's salary last year was $50,000, what salary does he expect to earn this year?

• A) $51,250
• B) $48,750
• C) $52,220
• D) $52,250

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Definitions:

Jointly Plan

A collaborative effort to design and execute strategies, projects, or objectives.

Management By Objectives Approach

A performance management framework in which managers and employees work together to set, record, and monitor goals for a specific period to improve organizational performance.

Types Of Plans

Various structured documents or strategies to achieve short-term tasks or long-term goals, often differing in scope, duration, and detail.

Managers

Individuals who orchestrate and oversee the operations and employees within an organization to ensure that goals are met effectively and efficiently.