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Define race and ethnicity.How do they differ?
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, a measure of inflation or deflation.
Price Index
A statistical measure that examines the weighted average of prices of a basket of consumer goods and services, showing trends over time.
Base Year
A specific year against which economic, financial, or statistical data is standardized or indexed, allowing for comparison over time.
Consumer Price Index
The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a basket of consumer goods and services.
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