### Question
How does the law define GNP implicit price deflator?


### Answer
Under *26 U.S.C. § 43*, **GNP implicit price deflator** is defined as:

> the first revision of the implicit price deflator for the gross national product as computed and published by the Secretary of Commerce

#### Citation:
  - *26 U.S.C. § 43*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart D-Business Related Credits**

