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Define market basket.
Market basket refers to a fixed list of items used specifically to track the progress of inflation in an economy or specific market.
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Asked 11/12/2014 9:04:56 AM
Updated 11/12/2014 9:19:34 AM
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Food Stamp program provides food-purchasing assistance for low- and no-income people living in the U.S., it is now called The Supplemental Nutrition Assistance Program (SNAP).
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Workfare is an alternative, and controversial, way of giving money to otherwise unemployed or underemployed people, who are applying for social benefits.
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What is the econometric model?
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Updated 11/10/2014 9:26:38 AM
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An econometric model is a set of equations that have been estimated by econometric methods and that are then used, together, to forecast the economy or to calculate effects of changes in the economy.
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Seasonal unemployment: An elevated level of unemployment that is expected to occur at certain parts of the year.
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What is a base year?
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1 Answer/Comment
A base year is the year used for comparison for the level of a particular economic index for which the arbitrary level of 100 is selected so that percentage changes (either rising or falling) can be easily depicted.

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