Examlex
Quasars:
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, often used as an indication of inflation.
Base Year
A reference year used for comparative analysis, often in calculating economic indicators like indexes.
Absolute Change
The difference between the final value and the initial value of a quantity, without regard to the direction of change.
Price Level
A summary average of current prices for the full spectrum of goods and services in the economy.
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