Which term refers to economic variables whose values are measured in monetary units?
A) dichotomous variables
B) nominal variables
C) classical variables
D) real variables

Question

Quizplus · Accepted Answer

Nominal variables are measured in monetary units, reflecting their value in terms of money rather than in physical units. This contrasts with real variables, which are adjusted for inflation and reflect actual quantities or volumes.

Which Term Refers to Economic Variables Whose Values Are Measured