The sacrifice ratio is the number of percentage points of annual output that are lost in the process of reducing unemployment by one percentage point.
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Q3: The natural rate of unemployment is often
Q3: Phillips said that a central bank cannot
Q4: A. W. Phillips was a New Zealand
Q5: If decreases in money supply or cuts
Q8: According to the textbook, the sacrifice ratio
Q9: When the money supply changes, the aggregate-demand
Q10: The natural rate of unemployment depends upon:
Q13: A typical estimate of the sacrifice ratio
Q16: According to rational expectations theory, a credible
Q17: Phillips's discovery in the UK was supported
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