All of the following are examples of an economic variable except
A)the amount of income tax that a household has to pay.
B)a family's income.
C)the price of gasoline.
D)an integer 24.
E)the number of oil refineries in the United States.

Question

Quizplus · Accepted Answer

An economic variable is a quantity or characteristic that has economic value and can be measured. Integer 24 is not an economic variable as it does not have any economic value or measurement.

All of the Following Are Examples of an Economic Variable