A percent change for this quantity appears in the denominator of the sacrifice ratio.
A percent change for this quantity appears in the denominator of the sacrifice ratio. This quantity can create shoeleather costs and menu costs, and its "built-in" type is included in Robert Gordon's triangle model of it. By the (*) Fisher equation, this quantity is the difference between real and nominal interest rates, and the Phillips Curve plots this quantity versus unemployment. An increase in this quantity occurred alongside economic "stagnation" in the 1970s. For 10 points, name this economic quantity and phenomenon whose "hyper" variety leads to a massive increase in prices and devaluing of money.
A percent change for this quantity appears in the denominator of the sacrifice ratio.
inflation rate (prompt on anything relating to an increase in prices or the price level)