Your Annual Review Is Given to You at Your Place

question 362

Multiple Choice

Your annual review is given to you at your place of employment, and you get a raise of 3 percent for the next year. On the subway home though, you read an article stating the price of homes in the area you are looking to buy will increase by 6 percent during the coming year. You determine from the article that if you buy in your favorite neighborhood

• A) your purchasing power declines.
• B) consumer optimum is reached.
• C) your real income actually increases.
• D) quantity demanded will increase.

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Definitions:

Representative

Someone or something that serves as a typical example or an advocate for others.

Autism

A developmental disorder characterized by difficulties in social interaction and communication, and by restricted or repetitive patterns of thought and behavior.

Sample

A subset of individuals or elements taken from a larger population, used in research to make inferences or draw conclusions about the whole.

Random Sample

A method of selecting a sample from a population in such a way that every individual has an equal probability of being chosen, ensuring the sample’s representativeness of the whole population.