If Wages Increase 4% Faster Than Productivity,then Inflation Will Be

question 166

True/False

If wages increase 4% faster than productivity,then inflation will be 3% higher,because wages account for ³/₄ of the total costs for a firm.

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Definitions:

Secondary Boycott

A form of protest in which a union encourages both its members and the general public not to buy the products of a company that is involved in a dispute.

Lockout

A tactic used by employers where they prevent employees from working during a labor dispute, often to pressure the union to accept contract terms.

RICO Act

The Racketeer Influenced and Corrupt Organizations Act, a United States federal law designed to combat organized crime by allowing prosecution and civil penalties for racketeering activity.

Sympathy Strike

A labor strike by one union in support of another union's strike, even though the first union does not have a direct dispute with the employer.