If a central bank reduced inflation by 2 percentage points and that made output fall by 3 percentage points for 2 years and the unemployment rate rise from 3 percent to 5 percent for 2 years, the sacrifice ratio is
a. 1.
b. 2.
c. 3.
d. None of the above is correct.
c
Economics
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If the elasticity of supply of a good is zero, then its
A) supply curve is vertical. B) supply curve is horizontal. C) demand curve must be vertical. D) supply curve is positively sloped.
Economics
As a percentage of GNI, which of the following countries provides the greatest amount of foreign aid?
(a) United Kingdom. (b) United States. (c) Italy. (d) Sweden.
Economics