In Australia Between 1997and 2018, the

question 55

Multiple Choice

In Australia between 1997and 2018, the

• A) real and the nominal wage rates decreased by the same amount.
• B) nominal wage rate decreased and the real wage rate increased.
• C) nominal wage rate increased more than the real wage rate.
• D) real wage rate increased more than the nominal wage rate.
• E) nominal and real wage rates increased by the same amount.

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Definitions:

Median

The middle value or point in a data set, where half the data lies above and half below it.

Empirical Rules

Statistical rules that allow for the determination of probability within a normal distribution, stating percentages of data that lie within certain standard deviations from the mean.

Standard Deviations

Measures of how spread out the numbers in a dataset are, indicating the degree of variation from the mean.

Observations

Individual data points or measurements collected during an experiment or survey.