contestada

A majority of economists believe that in the long run, real economic variables and nominal economic variables behave independently of one another. For example, an increase in the money supply, a nominal variable, will cause the price level, a nominal variable, to increase but will have no long-run effect on the quantity of goods and services the economy can produce, a nominal variable. The distinction between real variables and nominal variables is known as ______

Respuesta :

The nominal, nominal, real, and the classical dichotomy are terms used to describe the division between real and nominal variables.

What do variables mean by nominal?

An attribute that is being measured is given a name, a label, or a classification using a nominal variable. The descriptive values it employs to describe the several categories have no intrinsic ordering.

Real and nominal variables: what are they?

Real variables are from which inflation and/or price impacts have been eliminated. Nominal variables, on the other hand, are those where the impacts of inflation have been taken into account. As a result, inflation and price changes have an impact on numeric data but not real ones.

To know more about nominal variables visit:

https://brainly.com/question/17276179

#SPJ4

Otras preguntas