The price of a mansion is $1.00 in 2013.
What is difference between a nominal and real variable?
Nominal variables are expressed in money or dollar terms, whereas the real variable compares the wage earned per hour to the basket of goods or services that it can purchase.
In comparing the wage earned per hour to 2 comic books, since the two would cost $12,that explains real variable, which is not required in this case.
However, comparing the the wage of $12 per hour to the price of mansion, which is $1 per one, indicates nominal variable.
In essence, the correct option in this case is that price of a mansion is $1.00 in the year 2013.
Find out more about nominal variable on:https://brainly.com/question/13487579
#SPJ1
