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Graph the inequality.
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Laspeyres Index
A measure of price inflation that calculates the relative price change of a fixed basket of goods and services at current prices compared to the prices of the same basket in a base period.
Price Levels
The overall average price of all goods and services made in the economy.
Consumption Levels
The amount of goods and services consumed by an individual or population.
Base Year
A point of reference year used for comparative purposes, especially in economic indices and statistics.
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