Nancy’s union has negotiated a three-year wage contract that provides for a 2.4% increase indexed to inflation. The rates of inflation are forecast to be 1.62%, 1.93% and 2.21% respectively. How will Nancy’s wage increase be expressed in the new contract? a) COLA plus 2.2% b) COLA plus 1.6% c) COLA plus 2.4% d) COLA plus 1.9%

Nancy’s union has negotiated a three-year wage contract that provides for a 2.4% increase indexed to inflation. The rates of inflation are forecast to be 1.62%, 1.93% and 2.21% respectively. How will Nancy’s wage increase be expressed in the new contract?
a) COLA plus 2.2%
b) COLA plus 1.6%
c) COLA plus 2.4%
d) COLA plus 1.9%

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