its jobless rate has fallen below most estimates of the natural rate of unemployment—the rate below which inflation has taken off in the past.
which在从句中充当什么成分,做宾语吗?是inflation has taken off the rate?感觉不通啊
追答给你换个角度看,
...inflation has taken off below the rate in the past.
由此可以看出,which = the rate 在介词 below 后做介词的宾语。