Question

The nominal value of anything is its price expressed in​ ________, and the real value of anything is its value expressed in​ ________.

Answer 1

Answer: The nominal value of anything is its price expressed in​ terms of money, and the real value of anything is its value expressed in​ purchasing power adjusted to inflation.

Answer 2

The nominal value of anything is its price expressed in today's dollars
​, and the real value of anything is its value expressed in​ in purchasing power, adjusted for inflation. The nominal value measures the dollar value of the product at the time it was produced, while real values give the general price level of the product.