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UNDERGROUND ECONOMY: Illegal and unreported market transactions and productive activity that escape the watchful eyes of official record keepers. By most estimates, a substantial amount of productive activity takes place in the underground economy for the United States. Of course, these are only estimates because such activity, by definition, goes unreported. Were activity in the underground economy added to official activity in the "overground" economy, then gross domestic product could be boosted by as much as 25% to 50%, or more.
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INFLATION RATE The percentage change in the price level from one period to the next. The inflation rate is most commonly presented as an annual average, the percentage change in the average price level from one year to the next. The two most common price indexes used to measure the price level and the inflation rate are the Consumer Price Index (CPI) and the GDP price deflator. The inflation rate is one of several key indicators of business-cycle instability and the overall health of the macroeconomy, with primary focus on tracking the goal of price stability.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for door-to-door salesmen.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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