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Briefly describe the five key elements of leadership.
Output
The amount of goods or services produced by a firm, industry, or economy over a given period.
Sacrifice Ratio
A measure of the economic cost of reducing inflation, calculated as the percentage of annual output lost per one percentage point reduction in inflation.
Inflation
A general increase in prices and fall in the purchasing value of money.
Output
The total amount of goods or services produced by a company or economy in a certain period.
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