Examlex
The Office of Management and Budget does which of the following?
Inflation
An increase in the overall level of prices in the economy
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.
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