Term
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Definition
| a measure of the average prices of goods and services in the economy |
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Term
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Definition
| the percentage increase in the price level from one year to the next |
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Term
| Consumer Price Index (CPI) |
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Definition
| an average of the prices of the goods and services purchased by the typical urban family of four |
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Term
| Producer Price Index (PPI) |
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Definition
| an average of the prices received by producers of goods and services at all stages of the production process |
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Term
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Definition
| the stated interest rate on a loan |
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Term
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Definition
| the nominal interest rate minus the inflation rate |
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Term
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Definition
| a decline in the price level |
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Term
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Definition
| the costs to firms of changing prices |
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