Unformatted text preview: inverse relationship – the Phillips Curve o This graph assumes there is a trade off between unemployment and inflation – large macroeconomic factors • High inflation and high unemployment: stagflation o 1973-1978: oil price issues...
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- Spring '11
- Gulati
- Economics, Inflation, Stagflation, Unemployment, Inflation rates, Keynesian economics, price stability/low inflation
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