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An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance.The number of claims a person has made in the last 3 years is an example of a numerical variable.
Aggregate Production
The total output of goods and services produced by an economy over a specific time period.
Net National Product
The total market value of all final goods and services produced by the residents of a country in a given time period, minus depreciation.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in real terms.
Base Year
A specific year against which economic growth is measured, serving as a standard comparison for financial indices and economic data.
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