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Mathematically, the real value of something in year X is equal to: [(price level this year price level last year) price level last year] 100.

Mathematically, the real value of something in year X is equal to: [(price level this year price level last year) price level last year] 100. nominal interest rate inflation rate. nominal value in year Y (price level in year X price level in year Y). (nominal GDP real GDP) 100

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