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Table 24-12. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below.
-Refer to Table 24-12. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,750. Then the inflation rate for 2011 is about
North American
Of or relating to the continent that includes Canada, the United States, Mexico, and the countries of Central America.
Industrial Revolution
A period of major industrialization that took place during the late 1700s and early 1800s, transforming agriculture-based societies into industrialized and urban ones.
Raw Materials
Basic materials that are used in the production of goods, finished products, or intermediate materials that are feedstock for future finished products.
Cheap Labor
The employment of workers at wages that are considered lower than the norm for their industry or region.
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