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August 3, 2015

Homework Help: Economics

Posted by Sarah on Saturday, March 17, 2007 at 7:50pm.

I learned that price level is the weighted average of prices of all goods and services in an economy. Does weighted mean that certain goods and service have different weight (in other words importance)than other goods and services like chewing gum having less weight than milk, or does weighted mean something else?

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