Examlex
What are inventories? What usually happens to inventories at the beginning of a recession,and what usually happens to inventories at the beginning of an expansion?
Base Year
A specific year against which economic growth or other variables are measured and compared.
Current Year
The present calendar year in which a transaction or event occurs or is being discussed.
Laspeyres Price Index
An economic measure that calculates the change in the price of a basket of goods and services, using the quantities purchased in the base year as weights.
Per Capita Income
The average income earned per person in a given area or country.
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