To correct a nominal quantity for changes in the price level, one should:
A)add a price index to it.
B)subtract a price index from it.
C)divide it by a price index.
D)multiply it by a price index.

Name: To correct a nominal quantity for changes in the price level, one should: A)add a price index to it. B)subtract a price index from it. C)divide it by a price index. D)multiply it by a price index.
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Question

Quizplus · Accepted Answer

Deflating is the process of dividing a nominal value by a price index to obtain the real value.

To Correct a Nominal Quantity for Changes in the Price