The face value of money or income is called its _______ value.
A) real
B) nominal
C) marginal
D) external

Question

Quizplus · Accepted Answer

The correct term for the face value of money or income is its nominal value. Nominal value refers to the stated value of an amount of money or income without considering inflation or other factors that could affect its purchasing power. Real value, on the other hand, takes into account the effects of inflation and other economic factors to determine the actual purchasing power of money or income. Marginal value refers to the additional benefit or cost of consuming or producing one more unit of a good or service. External value is not a commonly used term in economics.

The Face Value of Money or Income Is Called Its