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Bailey patents a device that allows its user to pretend to imitate the ability of a superhero copyrighted by Comic Cons, Inc. Bailey and Comic Con enter into a licensing agreement to make and sell the device as a toy to the public. Under the terms of the license, the licensee agrees to pay Bailey royalties of 4 percent. Their contract does not specify an end date. According to a majority of the United States Supreme Court in Kimble v. Marvel Entertainment, LLC, Comic Con can legally stop the payments
Real GDP
Gross Domestic Product adjusted for inflation, providing a more accurate measure of an economy's size and how it's grown over time.
Market Basket
A representative collection of goods and services used to track price changes for consumer expenditure and calculate inflation rates.
Base Year
A reference year against which economic or financial data is compared and indexed.
Current Year
Refers to the ongoing calendar year in which a statement is made or an event occurs.
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