The sacrifice ratio is the percentage point increase in the unemployment rate created in the process of reducing inflation by one percentage point

Which of the following generates allocative efficiency in a market economy?

A) United Nations rules for competition B) equity C) voluntary exchange between buyers and sellers D) national government intervention

If a product which costs $8 is sold at $10, the profit margin is

A) $2. B) 25%. C) 20%. D) None of the above