4 ms·
Yes, your second sentence makes sense to me. I guess I imagined the inflation-adjusted value of X to be defined at time t to be something like: value(X, t) / v
by leethargo 4y ago
Yes, your second sentence makes sense to me.
I guess I imagined the inflation-adjusted value of X to be defined at time t to be something like: value(X, t) / value(USD, t). So, when I substitute USD for X, I get constant 1.
- aidenn0 4y agoThat was almost right; the correct denominator is value(USD, SOME_FIXED_TIME). Nominal (i.e. non-inflation-adjusted) use value(USD,t) as the denominator implicitly when priced in dollars (hence the term "dollar denominated")