Answer:
B. number of percentage points annual output falls for each percentage point reduction in inflation.
Explanation:
The Sacrifice Rate is the loss of output due to the fight against inflation, and can be expressed as how much product is lost to reduce inflation by 1 percentage point.
The Sacrifice Rate is a proposition by economist Robert Lucas Jr, who noted that the slowdown in long-term inflation is associated with a reduction in the production of goods and services for a certain period until economic agents adapt to the new reality. pricing and restructuring their expectations of the economy. Therefore, the social cost of fighting inflation is a reduction in GDP and an increase in the unemployment rate.
Based on this context, we can conclude that the correct answer to your question is the letter B.
I would say c because the farmer specializes in only corn
According to the doctrine of separation of powers, the U.S. Constitution distributed the power of the federal government among these three branches, and built a system of checks and balances to ensure that no one branch could become too powerful.
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