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Identify Each of the Following as Nominal or Real Variables

question 85

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Identify each of the following as nominal or real variables.
a.the physical output of goods and services
b.the overall price level
c.the dollar price of apples
d.the price of apples relative to the price of oranges
e.the unemployment rate
f. the amount that shows up on your paycheque after taxes
g. the amount of goods you can purchase with the wage you get each hour
h. the taxes that you pay the government


Definitions:

Survey

A research method in which respondents answer pre-set questions.

Qualitative Studies

Research methods focusing on descriptive, in-depth analysis of social phenomena, often through interviews, observation, and text analysis.

Interviews

Interviews are a method of data collection in research, as well as a process in hiring, where questions are asked to elicit information from an interviewee for various purposes.

Observations

The process of closely monitoring, recording, or noting phenomena as they occur in natural settings, often used as a method in scientific studies.

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