Business, 25.03.2021 16:40 jetblackcap

The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Frances spends all of her money on comic books and beignets. In 2015, she earned $15.00 per hour, the price of a comic book was $5.00, and the price of a beignet was $3.00. Which of the following give the nominal value of a variable? a. Rina's wage is 2 comic books per hour in 2015.
b. The price of a beignet is $2.00 in 2015.
c. Rina's wage is $14.00 per hour in 2015.

Which of the following give the real value of a variable? Check all that apply.

a. Rina's wage is $14.00 per hour in 2015.
b. The price of a comic book is 3.5 beignets in 2015.
c. Rina's wage is 7 beignets per hour in 2015.

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The classical dichotomy is the separation of real and nominal variables. The following questions tes...

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