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Vocabulary Word

Word: nominal

Definition: in name only; of a name; trifling; (of a sum of money) very small; CF. nominate: propose as a candidate; appoint


Sentences Containing 'nominal'

All other debtors in the state were allowed the same privilege, and might pay with the same nominal sum of the new and debased coin whatever they had borrowed in the old.
OF THE REAL AND NOMINAL PRICE OF COMMODITIES, OR OF THEIR PRICE IN LABOUR, AND THEIR PRICE IN MONEY.
Its real price may be said to consist in the quantity of the necessaries and conveniencies of life which are given for it; its nominal price, in the quantity of money.
The labourer is rich or poor, is well or ill rewarded, in proportion to the real, not to the nominal price of his labour.
The same real price is always of the same value; but on account of the variations in the value of gold and silver, the same nominal price is sometimes of very different values.
But when corn is at the latter price, not only the nominal, but the real value of a corn rent, will be double of what it is when at the former, or will command double the quantity either of labour, or of the greater part of other commodities; the money price of labour, and along with it that of most other things, continuing the same during all these fluctuations.
In this state of things, and during the continuance of any one regulated proportion of this kind, the distinction between the metal, which is the standard, and that which is not the standard, becomes little more than a nominal distinction.
The quantity of silver, however, contained in that nominal sum was, during the course of this period, continually diminishing in consequence of some alterations which were made in the coin.
But the increase of the value of silver had, it seems, so far compensated the diminution of the quantity of it contained in the same nominal sum, that the legislature did not think it worth while to attend to this circumstance.
Six shillings and eightpence, therefore, containing about the same quantity of silver as thirteen shillings and fourpence of our present money (one-third part less than the same nominal sum contained in the time of Edward III), had, in those times, been considered as what is called the moderate and reasonable price of wheat.
In 1562, therefore, by the 5th of Elizabeth, the exportation of wheat was allowed from certain ports, whenever the price of the quarter should not exceed ten shillings, containing nearly the same quantity of silver as the like nominal sum does at present.
But in 1562, the year at which he ends with it, it contained no more than the same nominal sum does at present.
Silver sunk in its real value, or would exchange for a smaller quantity of labour than before; and corn rose in its nominal price, and, instead of being commonly sold for about two ounces of silver the quarter, or about ten shillings of our present money, came to be sold for six and eight ounces of silver the quarter, or about thirty and forty shillings of our present money.
But the nominal sum which constitutes the market price of every commodity is necessarily regulated, not so much by the quantity of silver, which, according to the standard, ought to be contained in it, as by that which, it is found by experience, actually is contained in it.
This nominal sum, therefore, is necessarily higher when the coin is much debased by clipping and wearing, than when near to its standard value.
Through the greater part of Europe, too, the expense of land-carriage increases very much both the real and nominal price of most manufactures.
In China and Indostan, the extent and variety of inland navigations save the greater part of this labour, and consequently of this money, and thereby reduce still lower both the real and the nominal price of the greater part of their manufactures.
Gold rose in its nominal value, or in the quantity of silver which was given for it.
It is not their nominal price only, but their real price, which rises in the progress of improvement.
The rise of their nominal price is the effect, not of any degradation of the value of silver, but of the rise in their real price.
Their real price, the quantity of labour and subsistence which was given away for them, was about one-third more than their nominal price is apt to express to us in the present times.
Through its nominal price, therefore, is higher in the present than it was in those ancient times, its real price, the real quantity of subsistence which it will purchase or command, is rather somewhat lower.
Its nominal value, the quantity of gold and silver by which this annual produce could be expressed or represented, would, no doubt, be very different; but its real value, the real quantity of labour which it could purchase or command, would be precisely the same.
The nominal value of all sorts of goods would be greater, but their real value would be precisely the same as before.
What is called bank money, is always of more value than the same nominal sum of common currency.
It is not the real, but the nominal price of corn, which can in any considerable degree be affected by the bounty.
The loss which Spain and Portugal could sustain by this exportation of their gold and silver, would be altogether nominal and imaginary.
The nominal value of their goods, and of the annual produce of their land and labour, would fall, and would be expressed or represented by a smaller quantity of silver than before; but their real value would be the same as before, and would be sufficient to maintain, command, and employ the same quantity of labour.
As the nominal value of their goods would fall, the real value of what remained of their gold and silver would rise, and a smaller quantity of those metals would answer all the same purposes of commerce and circulation which had employed a greater quantity before.
But if this money sinks in its value, in the quantity of labour, provisions, and home-made commodities of all different kinds which it is capable of purchasing, as much as it rises in its quantity, the service will be little more than nominal and imaginary.
When, either by the monopoly of the home market, or by a bounty upon exportation, you enable our woollen or linen manufacturers to sell their goods for somewhat a better price than they otherwise could get for them, you raise, not only the nominal, but the real price of those goods; you render them equivalent to a greater quantity of labour and subsistence; you increase not only the nominal, but the real profit, the real wealth and revenue of those manufacturers; and you enable them, either to live better themselves, or to employ a greater quantity of labour in those particular manufactures.
But when, by the like institutions, you raise the nominal or money price of corn, you do not raise its real value; you do not increase the real wealth, the real revenue, either of our farmers or country gentlemen; you do not encourage the growth of corn, because you do not enable them to maintain and employ more labourers in raising it.
A., there is now another vacancy open which entitles a member of the League to a salary of 4 pounds a week for purely nominal services.
By old English statutory law, the whale is declared "a royal fish."* Oh, that's only nominal!
For all these reasons then, and others perhaps too analytic to be verbally developed here, Ahab plainly saw that he must still in a good degree continue true to the natural, nominal purpose of the Pequod's voyage; observe all customary usages; and not only that, but force himself to evince all his well known passionate interest in the general pursuit of his profession.

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