Examlex
Determine whether the relation is also a function.
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Standard of Living
The degree of prosperity, amenities, tangible assets, and basic needs accessible to an individual, community, or country.
Consumer Price Index
A tool that measures the typical fluctuation across time in the costs faced by urban shoppers for a specified mix of consumer goods and services.
GDP Deflator
A measure of the price level of all new, domestically produced, final goods and services in an economy, used to adjust nominal GDP to real GDP.
Substitution Bias
A distortion in the Consumer Price Index due to changes in consumer purchase behavior or product substitutions.
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