Typical estimates of the sacrifice ratio suggest that about 10 percent of annual output has to be given up in order to reduce the inflation rate from
a. 8 percent to 4 percent.
b. 8 percent to 5 percent.
c. 7 percent to 5 percent.
d. 7 percent to 6 percent.
c
Economics
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In a market capitalist economy:
A) markets are not competitive. B) individual ownership and decision making are relied upon. C) consumers have few choices. D) the government owns the factors of production.
Economics
Improvements in labor productivity
A) affect the level of wages, but do not affect the rate of economic growth. B) affect the level of profit, but do not affect the rate of economic growth. C) hinder economic growth, because they cause unemployment. D) contribute to economic growth.
Economics