Answer:
These two options represent nominal values:
-The price of a beignet is $3.00 in 2011.
-Maria's wage is $27.00 per hour in 2011.
They are expressed in monetary value without taking into account inflation, or without being represented in terms of something else.
This option represents real value:
-The price of a beignet is 0.33 paperback novels in 2011.
The price of a beignet, nominally $3.00 is being expressed in relation to the price of something else: paperback novels, whose nominal price is $9.00.
In other words, in real terms, a beignet costs a third of what a paperback novel costs.
Answer:
What???
Explanation:
Jens-Peter Clausen. Managing Director and DE GmbH Partner.
Katrin Clausen. Manager.
Im not sure if my answer is right ▪_▪
Answer:
B) -1.5
Explanation:
Cross-price elasticity of demand is calculated by dividing the percentage change in quantity demanded of good A by the percentage change in price of good B.
cross-price elasticity of demand = change in demand of flank steaks / change in price of gas grills = 15% / -10% = -1.5
