Labor contract provides for a first-year wage

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Reference no: EM131000504

A labor contract provides for a first-year wage of $15.00 per hour and specified that the real wage will rise by 5 percent in the second year of the contract and by 7.5 percent in the third year. The CPI is 1.00 in the first year, 1.02 in the second year and 1.05 in the third year. What are the dollar wages that must be laid in the second and third years of the contract?

Reference no: EM131000504

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