[noo-muh-rair, nyoo-]
a basic standard by which values are measured, as gold in the monetary system.

1960–65; < French numéraire; see numerary Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
There is a single nondurable tradable good serving as the numeraire.
Detailed energy sector and one aggregate numeraire for all other production.
The pricing kernel is defined in terms of the marginal utility of numeraire consumption.
By a simple change of numeraire, the rise in the price of food can be seen to be the fall in the price of everything else.
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