Examlex
Which of the following is a problem associated with gross domestic product (GDP) as a measure of social welfare?
Disinflation
A reduction in the rate of inflation; a slowdown in the rate at which prices increase over time.
Sacrifice Ratio
An economic ratio that measures the effect of rising unemployment on the reduction of inflation within an economy.
Inflation Rate
The rate at which the general level of prices for goods and services is rising, and, subsequently, eroding purchasing power.
Annual Output
The total value of goods and services produced by an economy or a firm in one year.
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