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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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