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The cuneiform inscription in the Liberty Fund logo is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.
What is the difference between real and nominal prices? Why bother to understand the difference? Find out more about how economists think about Real, Relative, and Nominal Prices in our College Topics pages.
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