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.

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Definitions:

Projective Tests

Psychological assessments that use ambiguous stimuli to elicit responses that may reveal facets of an individual's personality.

Free Association

A psychological method where a patient speaks freely to reveal the unconscious thoughts and emotions that shape behaviors.

Archetypes

Universally recognized symbols or patterns in the human psyche recurring across cultures and literature, often manifesting in dreams, fantasies, and behaviors.

Archetypes

Universally recognized symbols or patterns of behavior that are instinctively understood by all humans, often used in analyzing myths and storytelling.