Which of the Following Is a Nominal Variable

question 35

Multiple Choice

Which of the following is a nominal variable?

• A)education
• B)employment status
• C)age
• D)occupational prestige
• E)not enough information to know

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Definitions:

Substitute Goods

Products or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Demand

Demand refers to the quantity of a product or service that consumers are willing and able to purchase at various prices during a given period.

Price Decrease

A reduction in the cost that buyers must pay for a good or service.

Normal Good

A type of good for which demand increases when income increases, and falls when income decreases.