Let me tell you what some other people say, though: 1  The EWGâs Skin Deep Database lists it as a 5-6 (or moderate hazard), but trying to find the studies they used for their rating proved difficult, and the ones I did find were the nebulous âborax or boric acidâ test studies.
1 This is so because, my nominal wages have increased by 10% while the average price level (CPI) has increased by only 5%. 2  Thus today (in 2010) with my higher nominal wage ($1100.00) I can buy more than I could buy last year.
Economists need to take the fact that the prices were higher in 2008 than in 1978 into account to compare the two years accurately. Because prices for products and services tend to rise over time, the inflation rate is positive in most years. For this reason, nominal GDP rates are typically higher than real GDP rates.