Question: 1. What type of measurement scale (nominal, ordinal, interval, or ratio) is being used in the following situations? Musical scales Insurance risk classes for automobile insurance Numbering of pages in a book A grocery scale A grocery scale deliberately set 10 pounds too high Assignment of students to advisers, based on major?
2. If general price-level adjustment is concerned with the change over time of the purchasing power of the monetary unit, why is it not considered to be a current value approach?