The Value of a Large Property in Spain Has Increased

question 3

Multiple Choice

The value of a large property in Spain has increased from €765,000 to €820,000 during the last year. At the same time, property prices in the region have increased 8.5% on average. Which of the following statements is TRUE?

• A) The relative value of the property has decreased
• B) The relative value of the property has increased
• C) The relative value of the property has stayed the same
• D) You cannot calculate the relative value of the property

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Definitions:

Cross-Sectional Research

A research method that analyzes data from a population, or a representative subset, at a specific point in time to examine relationships between variables.

Longitudinal Research

A study design that involves repeated observations of the same variables over a period of time, often years or even decades.

Intelligence Levels

Varying degrees of cognitive capacity among individuals, including problem-solving, learning, adaptation, and understanding complex concepts.

Representative Sample

A sample that accurately reflects the characteristics of the population from which it is drawn.