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If a central bank reduced inflation by 3 percentage points and in the short run this made output fall by 3 percentage points for 3 years and the unemployment rate rise from 3 percent to 9 percent for three years,the sacrifice ratio every year is
Projecting
Projecting involves transferring one's own feelings, thoughts, or attributes onto another person or group, often unconsciously.
Selective Attention
The process of focusing on a specific aspect of information while simultaneously ignoring other irrelevant information.
Perceptual Distortion
A cognitive bias that affects the way we perceive reality, often leading to misinterpretations or inaccuracies in judgments.
Impression Management
The process by which individuals attempt to control or influence the perceptions others have of them, often through managing their own behavior or information in social interactions.
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