When Shopping You Notice That a Pair of Jeans Costs

question 223

Multiple Choice

When shopping you notice that a pair of jeans costs $20 and that a tee-shirt costs $10.You compute the price of jeans relative to tee-shirts.

• A)The dollar price of jeans and the relative price of jeans are both nominal variables.
• B)The dollar price of jeans and the relative price of jeans are both real variables.
• C)The dollar price of jeans is a nominal variable;the relative price of jeans is a real variable.
• D)The dollar price of jeans is a real variable;the relative price of jeans is a nominal variable.

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Definitions:

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