### Question
Can you define what GNP implicit price deflator means?


### Answer
**GNP implicit price deflator** is defined as the following in *26 U.S.C. § 45K*:

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

#### Citation:
  - *26 U.S.C. § 45K*
  - 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**

