Multiple Choice
When shopping you notice that a pair of jeans costs $20 and that a tee-shirt costs $10.You compute the price of jeans relative to tee-shirts.
A) The dollar price of jeans and the relative price of jeans are both nominal variables.
B) The dollar price of jeans and the relative price of jeans are both real variables.
C) The dollar price of jeans is a nominal variable;the relative price of jeans is a real variable.
D) The dollar price of jeans is a real variable;the relative price of jeans is a nominal variable.
Correct Answer:
Verified
Correct Answer:
Verified
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