Why is it important to adjust for inflation when comparing nominal quantities (for example, workers average wages)

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Why is it important to adjust for inflation when comparing nominal quantities (for example, workers’ average wages) at different points in time? What is the basic method for adjusting for inflation? (LO2)

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Principles Of Macroeconomics

ISBN: 9780415568685

2nd Brief Edition

Authors: Robert Frank, Ben Bernanke

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