Typical estimates of the sacrifice ratio suggest that a one-percentage-point reduction in the inflation rate requires a. a sacrifice of 5 percent of government spending. b. a 5 percent increase in the government budget deficit. c. an increase in the unemployment rate of 5 percentage points. d. a sacrifice of 5 percent of annual output.

Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.