Examlex
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Consumer Price Index
An index measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Base Year
The year with which other years are compared when an index is constructed: for example, a price index.
Minimum Wage
The lowest legal hourly pay for employees, set by government law.
Unskilled Workers
Workers who possess no special skills or training and typically perform simple tasks that require minimal prior experience.
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