If Your Nominal Income Is $75,000 and Your Real Income

question 113

Multiple Choice

If your nominal income is $75,000 and your real income in base year prices is $60,000,what is the CPI?

• A)100
• B)125
• C)80
• D)250
• E)200

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Definitions:

Proportions

A statistical measure that reflects the relative size of one part compared to the whole, often expressed as a fraction or percentage.

Proportion of Female Managers

The percentage of managerial positions in an organization or sector that are occupied by women.

Null and Alternative Hypotheses

In hypothesis testing, the null hypothesis is a statement of no effect or no difference, and the alternative hypothesis is the statement that researchers seek to provide evidence for.

One-Sample Test

A statistical test used to determine whether a sample mean significantly differs from a known or hypothesized population mean.