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Nominal

   Also found in: Dictionary/thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
Nominal
In name only. Differences in compounding cause the nominal rate to differ from the effective interest rate. Inflation causes the purchasing power of money to differ from one time to another.
Nominal
Describing a variable that does not take inflation into account. For example, when considering GDP growth, if GDP has grown 10% in nominal terms and the inflation rate is 3%, real GDP growth is only 7%.


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