Base Yea1 - Base Year - The year from which the original...

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Base Year - The year from which the original quantities and/or prices are taken in the calculation of an index. Benefits - Non-cash payments made to employees. For instance, health care plans or pensions. Bureau of Labor Statistics - The government organization responsible for regularly gathering data about the economic status of the population. Comparison Year - The year for which the quantities and/or prices of goods or services are replaced by those of the base year in the calculation of an index. Cost of Living - An index based on the amount of money necessary to purchase the market basket of goods and services purchased by the average consumer, relative to the same basket in an earlier year. CPI (Consumer Price Index) - The consumer price index is a cost of living index that is based on a fixed market basket of goods and services purchased by the average consumer. Cyclical Unemployment - Deviations from the natural rate of unemployment based on normal fluctuations in the business cycle. Efficiency Wages
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