An Automatic Increase in a Wage Rate Found in Some

question 94

Multiple Choice

An automatic increase in a wage rate found in some contracts is known as a

• A) change of labor agreement.
• B) cost of labor arrangement.
• C) cost of living adjustment.
• D) charge for living amendment.

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Definitions:

Quota

A government-imposed trade restriction that limits the quantity or monetary value of goods that can be imported or exported during a specific time frame.

Domestic Producers

Companies or individuals that manufacture or produce goods within their own country, as opposed to importing them from abroad.

NAFTA

The North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that removed tariffs and facilitated trade between the member countries.

Mexico

A country located in the southern portion of North America, known for its rich cultural history, diverse landscapes, and robust economy.