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Does factor price equalization occur in the real world?
GDP Price Index
A measure that tracks changes in prices of all goods and services produced within a country and is used to calculate real GDP.
Base Year
A specific year chosen as a reference point for financial or economic data comparison over time.
Inflation
The speed at which prices for goods and services generally ascend, wearing away the power to purchase.
Base Year
A specific year against which economic growth is measured, serving as a standard or benchmark.
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