Examlex
Draw a picture below showing the Moon's location relative to the Earth and the Sun during a lunar eclipse.
Sacrifice Ratio
The number of percentage points of annual output lost in the process of reducing inflation by 1 percentage point.
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.
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