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Base year
Meaning
Noun
●
In Economics & Statistics:
a year
chosen
for
comparison
with other years, in
statistical analysis
and various
indices
, such as a
price index
. It usually has an
arbitrary
value of 100 to make
percentage
comparisons
easier
. A new
base year
can be
chosen
as the years progress.
Sourced from
Wiktionary
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