valley. (building construction). An inside angle formed where two sloping sides intersect. (geography). A generally broad area of flat, low-lying land bordered by higher ground.
In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services.
DEFINITION of 'GDP Price Deflator'. An economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP.The GDP deflator shows how much a change in the base year's GDP relies upon changes in the price level.Also known as the GDP implicit price deflator..Next Up.n economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP. The GDP deflator shows how much a change in the base year's GDP relies upon changes in the price level. Also known as the GDP implicit price deflator.. Next Up.