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Table 8-26
-Refer to Table 8-26.Given the information above,calculate the GDP deflator for both 2012 and 2013.What does the value of the deflator in the year 2012 tell you about that year with respect to the base year? What happened to prices in 2013 as compared to 2012?
Judicial Review
The process by which a court determines the constitutionality of various legislative statutes, administrative regulations, and executive actions.
Persuasive Precedents
Judicial decisions from other jurisdictions that are not binding but may inform and influence a court's decision in a similar case.
Binding Precedents
Legal decisions or rulings that must be followed by lower courts within the same jurisdiction in future cases with similar circumstances.
Social Security Administration
A U.S. government agency responsible for administering social security, a social insurance program consisting of retirement, disability, and survivor benefits.
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