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When a confound exists,
Price Level
The median price level of all goods and services currently offered in the economy.
Previous Year
The 12-month period immediately before the current year, used as a reference point for comparing data or statistical analysis.
Unemployment
The situation where individuals who are willing and able to work are not currently employed.
Inflation
The magnitude of growth in the overall price points for goods and services, weakening the efficacy of spending power.
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