TeachMeFinance.com - explain Base period price
Base period price The term 'Base period price ' as it applies to the area of agriculture can be defined as ' such as 1910-14, 1957-59, 1967, 1977, or 1982. Time series of data are often deflated to a base period price. Such deflated time series are referred to as constant dollar values (versus nominal dollar values)'.
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