Nominal values
What Nominal values means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Nominal values
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Reference: Pearson Edexcel
Values expressed in the monetary terms of the period being measured, without any adjustment for inflation.
Values that reflect current prices, rather than being adjusted for price changes.
Data measured in current prices, unadjusted for the effects of inflation.
Topics that use Nominal values
- Appendix 3: Quantitative skills (Pearson Edexcel A-Level)
- Growing economies (Pearson Edexcel A-Level)
- Inflation (Pearson Edexcel A-Level)
Related terms
- Real values
- Base year
- Demand-pull inflation
- Index numbers
- Price index
- Purchasing power
- Business uncertainty
- Cost-push inflation
Using Nominal values in the exam
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