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constant dollars
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constant dollars

  dollar amounts adjusted for inflation (decrease in the value of a dollar over time), based on buying power in a certain base year
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Strongly Associated with:   nominal dollars
Inflation makes it difficult for people to see real changes in dollar amounts over long periods of time. For example, if a woman earned $30,000 a year in 1990, her daughter would have needed to earn over $53,500 to have the same real income in 2014.

A graph of average income between the day you were born and today would be much easier to understand if each year’s average income was displayed in today’s dollar value; hence the popularity of constant dollars.

For a conversion of dollar values between years, see:
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Associated words [difficulty]:   constant dollars
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Most commonly used in these subjects:   Public Policy & Politics, Business, Engineering, Personal Finance
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