Question

What is sacrifice ratio​

Answer 1

Answer:

Sacrifice Ratio' is defined as the loss of output sustained by the economy to achieve reduction in the long-run inflation by one percentage point. ... The sacrifice ratio is the cost of reducing inflation, the loss of output that must be sustained by the economy in order to achieve a reduction in trend inflation.

Answer 2

Answer:

Sacrifice Ratio' is defined as the loss of output sustained by the economy to achieve reduction in the long-run inflation by one percentage point. ... The sacrifice ratio is the cost of reducing inflation, the loss of output that must be sustained by the economy in order to achieve a reduction in trend inflation.

Explanation:

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