Macroeconomic history of the 1980s

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Explain how rising demand for college-educated workers and falling demand for high-school educated workers contributes to increased inequality of the distribution of income. As the economy slipped into recession in 1980 and 1981, the Fed was under enormous pressure to adopt an expansionary monetary policy. Suppose it had begun an expansionary policy early in 1981. What does the text's analysis of the inflation-unemployment cycle suggest about how the macroeconomic history of the 1980s might have been changed?

Reference no: EM133147602

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