Economic variables whose values are measured in goods are called:

• A. Endogenous variables
• B. Nominal variables
• C. Real variables
• D. Exogenous variables

Answer: (C)

Verified step by step guidance

1. Understand the definitions of the key terms: Endogenous variables are those determined within the economic model; Exogenous variables are determined outside the model.
2. Recognize that Nominal variables are measured in monetary units, reflecting current prices without adjusting for inflation.
3. Identify that Real variables are measured in physical units or goods, adjusting for price changes to reflect true quantity or value.
4. Since the problem asks for economic variables measured in goods (physical quantities), focus on the distinction between nominal and real variables.
5. Conclude that variables measured in goods, rather than monetary terms, are called Real variables.