On a given morning, Franco sold 40 pairs of shoes for a total of $80 at his shoe store
a. The $80 is a real variable. The quantity of shoes is a nominal variable.
b. The $80 is a nominal variable. The quantity of shoes is a real variable.
c. Both the $80 and the quantity of shoes are nominal variables.
d. Both the $80 and the quantity of shoes are real variables.
b
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This Application addresses the idea that
A) imports ultimately have a positive impact on all communities. B) imports have a bigger impact on some communities than on others. C) imports are only beneficial to a community if they are equally matched by exports from that community. D) imports have an equal impact on all communities.
In the Cournot duopoly model, each of the two firms, in determining its profit-maximizing price-output level, assumes that the other firm's ____ will not change
a. price b. output c. marketing strategy d. inventory e. none of the above