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Price Level
The total average price level for all domestically produced goods and services.
Base Year
A specific year against which economic growth is measured, serving as a standard of comparison for other years.
National Income
National Income is the total income earned by the residents of a country, including wages, profits, rents, and taxes, minus subsidies, over a certain period of time, often used to assess the economic health of a country.
Wages
Compensation provided to workers for their efforts or tasks, usually determined based on hours worked, daily rates, or the amount of work completed.
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