The Sacrifice Ratio Is the

question 35

Multiple Choice

The sacrifice ratio is the

• A)sum of the inflation and unemployment rates.
• B)inflation rate divided by the unemployment rate.
• C)number of percentage points annual output falls for each percentage point reduction in inflation.
• D)number of percentage points unemployment rises for each percentage point reduction in inflation.

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Definitions:

Responsibilities

Duties or tasks that one is required or expected to perform as part of a job or role.

Exchange Rates

The value of one currency expressed in terms of another currency.

Transaction

An instance of buying or selling something; a business deal or action.

Currency Exchange

The process of exchanging one country's currency for another country's currency, typically at a rate determined by the foreign exchange market.