Real Income for a Given Year Would Be Less Than

question 11

Multiple Choice

Real income for a given year would be less than nominal income in that year if:

• A) the consumer price index was less than 100 in that year.
• B) nominal income in that year was greater than nominal income in the previous year.
• C) nominal income in that year was less than nominal income in the previous year.
• D) the consumer price index was greater than 100 in that year.

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Definitions:

Groups are Equivalent

This term refers to the condition in experimental research designs where different groups are matched on key characteristics or variables to ensure comparability and control for confounding variables.

Social Desirability

The tendency of respondents to answer questions in a manner that will be viewed favorably by others, which can bias survey and research outcomes.

Cognitive Dissonance

A psychological phenomenon where there is a feeling of uncomfortable tension which comes from holding two conflicting thoughts in the mind at the same time.

Carryover Effect

A phenomenon where the effect of a previous condition persists and influences performance in subsequent conditions in a study.