Question

Alejandra is Calculating the nondurable goods value for 2017. She is calculating the value by using the quantity of each final nondurable goods produced in 2017, multiplied by the price at which the nondurable goods were sold in 2017. What type of calculation is Alejandra creating?
a. The nondurable goods nominal values.
b. The nondurable goods nominal and real values.
c. The nondurable goods real values

Answer 1

Answer:

a. The nondurable goods nominal values.

Explanation:

Nominal value of goods (also known as face or par value) is the value of goods in terms of the monetary value. So in this instance Alejandra is multiplying the number of goods by the price, she is calculating the nominal value of nondurable goods.

On the other hand, real value is calculated on the basis of other goods and services, is adjusted for inflation, and compare quantity of goods.