Cost of living raises protect

Question

Quizplus · Accepted Answer

Cost of living raises are pay increases provided to workers to match the rise in the cost of goods and services due to inflation. As inflation increases, the prices of goods and services also increase, making it more expensive for workers to maintain their standard of living on their current salary. Cost of living raises help protect workers from unexpected inflation by adjusting their salaries to match the increased cost of living. They do not protect businesses, consumers, or workers from expected inflation, as this inflation is already factored into prices and salaries.

Cost of Living Raises Protect