base period
noun
: a period of business or economic activity used as a basis or reference point especially for indexing, calculating, estimating, or adjudicating prices, taxes, compensation, income, and production
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“Base period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/base%20period. Accessed 23 Nov. 2024.
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