A Clause in a Contract That Automatically Increases Wages to Account

question 291

Multiple Choice

A clause in a contract that automatically increases wages to account for increases in the price level is

• A) the GDP deflation.
• B) the PCE index.
• C) a COLA.
• D) the real rate of interest.

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Definitions:

Implement Strategy

The process of executing plans or methods to achieve long-term goals or objectives within an organization.

Competitors' Moves

Actions or strategies implemented by rival firms in the marketplace that may affect the competitive balance.

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, outlining terms of employment, salaries, and work conditions.

Common Law

A legal system characterized by case law, which is law developed by judges through decisions of courts and similar tribunals.