Alex Aliyev Is a Primary School Teacher

question 113

Essay

Alex Aliyev is a primary school teacher. When he started working in 2004, he was earning an annual salary of $36,000. In 2011, his salary was $48,000. The consumer price indices for 2004 and 2011 were 108 and 120, respectively.
A) Compute the nominal increase in Alex's salary between 2004 and 2011.
B) Compute the real increase in Alex's salary between 2004 and 2011.
C) Interpret the result.

• A) Compute the nominal increase in Alex's salary between 2004 and 2011.
• B) Compute the real increase in Alex's salary between 2004 and 2011.
• C) Interpret the result.

Understand the various types of agreements and contracts in the context of intellectual property.

Identify the criteria for obtaining a patent.

Recognize the concept of royalties in intellectual property law.

Understand the rights and limitations under copyright law.