Elucidate the difference among nominal and real variables

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Q. Elucidate the difference among nominal and real variables and give tow examples of each. According to the principle of monetary neutrality, which variables are affected by changes in the quantity of money?

Q. Recently the price of gasoline has significantly increased. The price elasticity of demand for gasoline, according to the textbook, is 0.60. Given the information, which statement of the following is correct?

Reference no: EM1349164

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