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Is there any relation between inflation and unemployment?
The Phillips Curve was a relationship among unemployment and inflation discovered by Professor A.W. Phillips. He found that there was a trade-off among unemployment and inflation, so that any attempt by governments to decrease unemployment was likely to lead to enhanced inflation. This relationship was seen by Keynesians as a justification of their policies. Though, in the 1970s the curve began to break down as the economy suffered from unemployment and inflation rising together (stagflation).
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
explain main features of short run engineering cost theory
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what is general equilibruim?
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
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An Exception: OECD Economies It isn't inevitable that there be such divergence. United States--with its 14 to 25-fold increase in output per worker over the years since 1870-ha
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