If You Received a 4 Percent Increase in Your Nominal

question 42

True/False

If you received a 4 percent increase in your nominal wage and the price level increased by 6 percent, then your real wage has increased by 2 percent.

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Definitions:

Outbreeding

The practice of mating organisms from different populations or genetic backgrounds to increase genetic diversity and vigor.

Flynn Effect

The observed substantial and long-term increase in both fluid and crystallized intelligence test scores that have been measured in various parts of the world over the 20th century.

Flynn Effect

The observed rise over time in standardized intelligence test scores, attributed to various factors such as improved education and nutrition.

Raw Scores

The original, unmodified scores obtained directly from tests or assessments.