Question

on a given morning, franco sold 40 pairs of shoes for a total of $800 at his shoe store.a. the $800 is a nominal variable. the quantity of shoes is a real variable.b. both the $800 and the quantity of shoes are real variables.c. both the $800 and the quantity of shoes are nominal variables.

Answer 1

Given that Franco sold 40 pairs of shoes and a total of $800, a. the $800 is a nominal variable. the quantity of shoes is a real variable.

What are nominal and real variables?

Nominal value refers to the monetary value that a good or service has, when that value has not been adjusted for inflation. In this case therefore, the nominal variable is the $800 that Franco was able to sell the shoes for.

Real variables are those ones that can be counted and are tangible. They are the good or service itself and not the value of it. The quantity of shoes sold in this case, is therefore the real variable.

Find out more on nominal and real variables at https://brainly.com/question/13539124

#SPJ1