To compare accurately the price of automobiles in 1950 and in 2010,we would need to calculate the real price of automobiles in 1950 and in 2010.

Question

Quizplus · Accepted Answer

We need to calculate the real price of automobiles in both years to accurately compare their prices, because the inflation and changes in the value of money over time affects the nominal price. Calculating the real price adjusts for inflation and allows for a more accurate comparison of the prices.

To Compare Accurately the Price of Automobiles in 1950 and in 2010,we