Difference between revisions of "Sacrifice ratio"
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Latest revision as of 19:17, 2 July 2020
Sacrifice ratio is the number of percentage points of a year's real GDP that must be forgone to reduce inflation by 1 percentage point.
Definition
According to Macroeconomics by Mankiw (7th edition),
- Sacrifice ratio. The number of percentage points of a year's real GDP that must be forgone to reduce inflation by 1 percentage point.
