QUESTION ONE (a) The table below shows the average monthly salary in Kenya Shillings and the respective consumer price index: Year Monthly Salary Consumer Price Index (CPI) Index 2005 20000 150 85.7 2006 21500 175 100 2007 22700 205 117 2008 23500 215 122 (i) Calculate real income and explain whether or not the material welfare of the individual improved over the five years. Calculate the deflated average salary after changing the base year from 2006 to 2008. (b) Giving examples, differentiate between open ended questions and closed ended questions. (c) Explain what is involved in piloting of a questionnaire.

QUESTION ONE (a) The table below shows the average monthly salary in Kenya Shillings and the respective consumer price index: Year Monthly Salary Consumer Price Index (CPI) Index 2005 20000 150 85.7 2006 21500 175 100 2007 22700 205 117 2008 23500 215 122 (i) Calculate real income and explain whether or not the material welfare of the individual improved over the five years. Calculate the deflated average salary after changing the base year from 2006 to 2008. (b) Giving examples, differentiate between open ended questions and closed ended questions. (c) Explain what is involved in piloting of a questionnaire.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.3P

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