Definition of numeraire in English:
numeraire
noun ˈnjuːmərɛːˈnjuməˌrɛr
Economics An item or commodity acting as a measure of value or as a standard for currency exchange.
Example sentencesExamples
- Money therefore appears to be just a mere numeraire.
- Labor can be a numeraire of profits, but that hardly justifies the labor theory of value, because many things can be numeraires.
- No one knows how long savers will continue to accept a depreciating monetary unit as numeraire for their savings.
- This constraint is also essential for defining a numeraire, that is the monetary expression of one hour of labour.
- More practically, income could be measured as the money value, or value in some other numeraire, of the goods and services directly yielding utility, but only of those.
Origin
1960s: from French numéraire, from late Latin numerarius, from Latin numerus 'a number'.
Definition of numeraire in US English:
numeraire
nounˈnjuməˌrɛrˈnyo͞oməˌrer
Economics An item or commodity acting as a measure of value or as a standard for currency exchange.
Example sentencesExamples
- More practically, income could be measured as the money value, or value in some other numeraire, of the goods and services directly yielding utility, but only of those.
- Money therefore appears to be just a mere numeraire.
- No one knows how long savers will continue to accept a depreciating monetary unit as numeraire for their savings.
- This constraint is also essential for defining a numeraire, that is the monetary expression of one hour of labour.
- Labor can be a numeraire of profits, but that hardly justifies the labor theory of value, because many things can be numeraires.
Origin
1960s: from French numéraire, from late Latin numerarius, from Latin numerus ‘a number’.