Examlex
Which of the following is considered an open system?
Basket's Cost
The total expense of a selected set of goods and services over a period, often used to measure inflation.
Base Year
A reference year used for comparative financial analysis in which indices or prices are normalized to 100.
Consumer Price Index
A scale that quantifies the average alteration over time in the prices that urban buyers allocate for a specific group of consumer products and services.
Basket of Goods
A fixed set of consumer products and services valued on an annual basis to measure inflation in an economy or specific market.
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