Economic Variables Are Most Often Expressed in

question 306

Multiple Choice

Economic variables are most often expressed in

• A)nominal terms, and that's what's important.
• B)nominal terms, but real variables are what's important.
• C)real terms, and that's what's important.
• D)real terms, but nominal variables are what's important.

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Definitions:

Independent Variables

Variables in an experiment or observational study that are manipulated or categorized to observe their effect on dependent variables.

Dependent Variable

The variable in a study or experiment that is expected to change in response to changes in the independent variable.

Multiple Regression Equation

An equation that models the linear relationship between a dependent variable and multiple independent variables.

Expected Value

A measure of the central location of a random variable.