Examlex
Creating clear and meaningful questions are important, but the choices you provide respondents in closed-ended questions are also important and include
Price Level
An index that measures the average level of prices of goods and services in an economy over a period of time.
Real Wages
Wages adjusted for inflation, reflecting the true purchasing power of income received by workers.
Nominal Income
The amount of money earned in current dollars, without adjustment for inflation, affecting purchasing power over time.
Real Income
Income of individuals or nations after adjusting for inflation, reflecting the actual purchasing power.
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