The average raise in base pay is expected to be 3.0 percent in 2015, up slightly from 2.9 percent in 2014, 2.8 percent in 2013 and 2.7 percent in 2012.These results are indicative of a steadily increasing trend.he average raise in base pay is expected to be 3.0 percent in 2015, up slightly from 2.9 percent in 2014, 2.8 percent in 2013 and 2.7 percent in 2012.
In summary, ceteris paribus is the commonly used Latin phrase meaning 'all other things remaining constant.' The concept of 'ceteris paribus' is important in economics because in the real world, it is usually hard to isolate all the different variables that may influence or change the outcome of what you are studying.
This feature is not available right now. Please try again later. This is a lesson that focuses on a common principle in economics and that is ceteris paribus. Basically, Ceteris Paribus (Latin) is a phrase that means, we will keep everything else the same except the variable we are concerned with. To illustrate the example of ceteris paribus in action I use the example of the price of ice cream in relation to the quantity of ice cream sold. In this example we would want to hold all other variables equal, especially the ones that could potentially affect our data.