All income,production,and expenditure variables that are measured at current market prices are referred to as ________.
A)real variables
B)nominal variables
C)implicit variables
D)index variables
E)none of the above

Question

Quizplus · Accepted Answer

Nominal variables are measured at current market prices, whereas real variables are adjusted for inflation. Implicit variables refer to variables that are not directly observable, and index variables are typically used to measure changes over time or across regions. Therefore, the best choice for the given description is B) nominal variables.

All Income,production,and Expenditure Variables That Are Measured at Current Market