A price index is a measure of the average level of prices in an economy.

Name: A price index is a measure of the average level of prices in an economy.
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A price index measures the average level of prices in an economy over a period of time, typically using a specific base year as a reference point. It is a commonly used indicator of inflation, as changes in the index reflect changes in the overall cost of living for consumers and businesses.

A Price Index Is a Measure of the Average Level