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Meaning of nominal national income

 

 

 

Nominal national income

 

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Business glossary

 

Meaning of term nominal national income :

 

Nominal national income is the value of output at current prices. In other words it is national income valued at the prices existing at the time and not adjusted for inflation. Once adjusted for inflation it would be described as 'real national income'.

 

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Nominal national income

 

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