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Dollar Prices and Relative Prices Are Both Nominal Variables

question 134

True/False

Dollar prices and relative prices are both nominal variables.


Definitions:

Grams

A mass measurement unit representing 0.001 of a kilogram.

Pounds

A unit of weight commonly used in the United States, equal to 0.453592 kilograms.

Kg

A unit of mass equal to 1,000 grams or approximately 2.20462 pounds, used in the metric system.

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