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.
C
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Open market operations are conducted by the Fed
A) in the New York Stock Exchange. B) in the private secondary U.S. securities market. C) through the Washington location of the Federal Reserve's Bank of Governors. D) through the Bureau of Engraving.
Competition as a dynamic process implies that the individual firms in an industry
a. face a perfectly elastic demand curve. b. utilize a variety of techniques, such as product, style, and price, to win the dollar votes of consumers. c. produce a homogeneous product. d. cooperate, attempting to establish a price and output structure so each firm can survive and continue to serve the consumer.