Webster's English Dictionary

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parity

1. par.i.ty \'par-*t-e-\ n [L paritas, fr. par equal] 1: the quality or 
   state of being equal or equivalent  2a: equivalence of a commodity price 
   expressed in one currency to its price  expressed in another 2b: equality 
   of purchasing power established by law between different kinds  of money at 
   a given ratio 3: an equivalence between farmers' current purchasing power 
   and their purch asing power at a selected base period maintained by 
   government support of agricultural commodity prices
2. parity n : the state or fact of having borne offspring; also : the 
   number o f children previously borne