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ratchet effect
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noun
intermittent growth, increase, expansion, or the like: the ratchet effect of defense expenditures.
QUIZ
THINGAMABOB OR THINGUMMY: CAN YOU DISTINGUISH BETWEEN THE US AND UK TERMS IN THIS QUIZ?
Do you know the difference between everyday US and UK terminology? Test yourself with this quiz on words that differ across the Atlantic.
Question 1 of 7
In the UK, COTTON CANDY is more commonly known as…
Origin of ratchet effect
First recorded in 1965–70
Words nearby ratchet effect
ratbite fever, ratcatcher, ratch, rat cheese, ratchet, ratchet effect, ratchet jack, ratchet wheel, rat claw foot, rate, rateable
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use ratchet effect in a sentence
VAT rates show little evidence of a ratchet effect during the era of price stability.
British Dictionary definitions for ratchet effect
ratchet effect
noun
economics an effect that occurs when a price or wage increases as a result of temporary pressure but fails to fall back when the pressure is removed
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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