What type of variable is the price level?
A)a relative variable
B)an actual variable
C)a real variable
D)a nominal variable

Name: What type of variable is the price level? A)a relative variable B)an actual variable C)a real variable D)a nominal variable
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Question

Quizplus · Accepted Answer

The price level is a nominal variable because it is a measured variable in monetary terms that does not take into account changes in purchasing power due to inflation or other economic factors.

What Type of Variable Is the Price Level