For a Given Amount of Nominal Income, the Real Income

question 100

Multiple Choice

For a given amount of nominal income, the real income will

• A) fall if the price level rises.
• B) fall if the price level falls.
• C) be unaffected if the price level falls.
• D) rise as the price level rises.

---

Definitions:

Equal-variance T-test

A statistical method used to determine if there is a significant difference between the means of two groups which are assumed to have the same variance.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true.

Fitness Program

A planned regime of physical activities designed to improve and maintain one's health and physical condition.

F-test Statistic

A ratio of variances used in hypothesis testing to compare statistical models or variances across groups.