Examlex
You are off to the grocery store and need to buy 20 items. Unfortunately you could not write them down and must remember them on your own. Which of the following strategies will help you remember the list?
GDP Deflator
A measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to convert nominal GDP into real GDP.
Consumer Price Index
A benchmark capturing the average movement over time in the outlay of urban buyers for a predetermined mix of consumer goods and services.
Consumer Price Index
An index measuring the change over time in the price level of consumer goods and services purchased by households.
Base Year
A reference point in time used for comparative purposes, particularly in the context of economic and financial indices.
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