What you’ll learn to do: use a price index to translate between real and nominal data
In this section, you will learn about the importance of looking at “real” data—information that has been adjusted for inflation, and why doing so can help economists to get a more accurate assessment of a value.
The learning activities for this section include:
- Reading: Nominal and Real Values
- Reading: Computing Real Values Using Price Indexes
- Self Check: Price Indexes and Real Data
Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.