INFLATION Definition

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INFLATION is an increase in the general price level of goods and services; alternatively, a decrease in the purchasing power of the dollar or other currency.

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SIC (STANDARD INDUSTRIAL CLASSIFICATION) is a U.S. Government numerical coding system used in the U.S. to group and classify basically all products and services existing within the U.S. economy.

EARNING CAPACITY, LOSS OF 'Loss of earning capacity' means the difference between the worker's net average earnings before the incident, and the net average amount of wages the deciding body determines the worker is capable of earning after the incident.

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