What is basic method for adjusting for inflation

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Q. What will pattern of trade be and what is range of post-trade relative prices (of glass to food) that can prevail? How does this trade affect real wage (in terms of each good) in each country?

Q. Why is it important to adjust for inflation when comparing nominal quantities at different points in time? What is basic method for adjusting for inflation?

Reference no: EM1369230

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