Examlex
Fees that Australian universities receive from overseas students studying in Australia are not included as part of GDP but are included as part of Gross National Income (GNI), as GNI includes flows of funds from overseas.
Inflation Rate
A measure reflecting how much prices of goods and services have increased in a given period, reducing the purchasing power of money.
Market Basket
A set combination of goods and services used as a consistent measure to track the cost of living and inflation through price changes over time.
Basket of Goods
A selected group of products whose prices are tracked over time for the purpose of measuring inflation.
Base Period
A specific time period used as a benchmark for comparing economic data over time.
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