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If Your Nominal Wage Rises More Slowly Than the Price

question 265

Multiple Choice

If your nominal wage rises more slowly than the price level,we can say your real wage has ________ and the purchasing power of a dollar has ________.


Definitions:

Set Of Data

A collection of values or observations that can be analyzed statistically.

Mode

The most common number found in a given set of data, marked by the greatest peak on a frequency distribution chart.

Frequency Distribution

A summary of how often various values occur in a data set, often represented in a table or graph.

Mode

The value that occurs most frequently in a given set of data, used as a measure of central tendency.

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