nominal

The nominal value of a good is its value in terms of money. The real value is its value in terms of some other good, service, or bundle of goods. Relative price is another term for the real price of a good or service. When we say that the relative price of computers has fallen in recent years...

nominal exchange rate is the price of foreign currency in terms of domestic currency. when cost of purchasing one foreign currency is quoted in terms of domestic currency it is called nominal exchange rate because exchange rate is quoted in money terms i.e. so many rupees per doller. for...