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qid 7210 · economics
Question: If productivity is increasing by a uniform 2 percent in all industries, what should the wage guideline be if the inflation is to be held at 6 percent?
- 14%
- 12%
- 11%
- 9%
- 2%
- 8%
- 10%
- 4%
- 6%
- 7%
Our answer: F. 8% Source quote machine-checked (exact quote)
How it was answered
Multi-step solver (maze), replayed by code
Current source
U.S. Bureau of Labor Statistics, Productivity 101, "What Is Unit Labor Cost?"
https://www.bls.gov/k12/productivity-101/content/what-is-productivity/what-is-unit-labor-cost.htm
“Thus, labor productivity increases can offset the effect of wage increases on unit labor cost.”
Source quote machine-checked (exact quote)
Earlier version (superseded)
https://www.bls.gov/news.release/prod2.nr0.htm
Source weak (http_get_200_text_and_question_terms)
Earlier version (superseded)
No public source has been found for this card yet (3 places checked internally).
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