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In a real economy which two factors can change the level of nominal GDP?
Wiki User
∙ 11y ago
Inflation and Deflation
Wiki User
∙ 11y ago
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How are decisions made in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
If the price level doubles and real output doesn't change then nominal output also doubles?
false
What level of measurement is required to determine the mode?
nominal
How are decisions made in a market?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
Can more types of calculations be performed at a nominal level than an interval level?
No. The interval level is more refined and so enables calculations which are not available at the nominal level.
What level of measurement is ethnicity?
It is nominal.
What factors that affects the demand for money?
The major factors that affect the demand for money are price level, interest rates, economy, and the price of money.
What is the role of finance in an economy?
finance represents the funds in exchange of anything with value. It greatly affect the economy because finance is one of the factors to be considered in determining the level of an economy. Economy is said to be futile without finances.
Who makes decisions in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
What level of measurement is a bar code?
The level of measurement of a bar code is nominal.
What scale of measurement is educational level?
nominal
What level of measurement is what is your major?
That would be a nominal measurement.
