BUSINESS ADMINISTRATION
INDUSTRIAL RELATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cost of living claims are due to
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another group of workers getting a pay rise
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Inflation
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Increase in productivity
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workers doing a less demanding job get a pay rise
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Explanation:
Detailed explanation-1: -The Bottom Line Inflation and cost of living are related metrics but not identical. While inflation measures the average increase in prices of a basket of goods, cost of living looks at the cost of a certain standard of living, which can change by location.
Detailed explanation-2: -Inflation can impact the price of everything you need for daily living, from food to housing to what it costs to fill your tank so you can drive to work or put clothes on your back.
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