Multiple choice

'Misery Index' represents

  1. sum of rate of inflation and rate of unemployment

  2. product of rate of inflation and rate of unemployment

  3. proportion of very poor to people living below the poverty line

  4. both the above (2) and (3)
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A Correct answer
Explanation

The Misery Index is an economic indicator created by Arthur Okun, calculated simply by adding together the rate of inflation and the rate of unemployment. Higher values indicate a greater level of economic distress for the average citizen.

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