Identify Each of the Following as Nominal or Real Variables

question 85

Essay

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