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| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1778 |
Essay's paper body
As reported, the unemployment rate of America averaged as high as about 20 percent, whereas the prices of almost everything (farm products, raw materials, industrial goods, stocks) fell dramatically (Samuelson R n.d.). Moreover, the economic situation faced by Western countries in 1950s and 1960s also fitted this model well...
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Moreover, the economic situation faced by Western countries in 1950s and 1960s also fitted this model well. Therefore, this explanation did not involve in much debate during that period of time.
However, in 1970s, this was broken by the emergence of Stagflation, which shows a situation where high inflation and high unemployment, compared with historical data, appear simultaneously...
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