Which of the Following Statements Is Correct

question 65

Multiple Choice

Which of the following statements is correct?

• A)economic variables measured in physical units are nominal variables, and economic variables measured in monetary units are real variables
• B)economic variables measured in physical units are real variables, and economic variables measured in monetary units are nominal variables
• C)economic variables measured in physical units are actual variables, and economic variables measured in monetary units are nominal variables
• D)economic variables measured in physical units are real variables, and economic variables measured in monetary units are actual variables

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Definitions:

Inventory Holding Cost

The total costs related to storing and maintaining a company's inventory over a certain period.

Production Plan

A detailed outline of what a company needs to produce, how much, and by when to meet customer demand.

Operations Manager

A professional responsible for overseeing, designing, and controlling the production process and business operations.

Processing Time

The amount of time required to complete a specific task or operation in a manufacturing or processing environment.