Prior to the mid-1970s, many economists thought that inflation would lead to a lower rate of unemployment.
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Prior to the mid-1970s, many economists thought that inflation would lead to a lower rate of unemployment. Why? Did the early fallacious view of the Phillips curve contribute to the inflationary policies of the 1970s? How does the modern view of the Phillips curve differ from the earlier view?
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Related Book For
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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