Multiple Choice
One reason why the Phillips curve "broke down" is
A) most of the inflation of the 1970s was from the demand side.
B) most of the inflation of the 1970s was from the supply side.
C) the inflation of the 1970s was foreseen, unlike the inflation of the 1980s.
D) the inflation of the 1970s was purely random and could not be explained with economic theory.
Correct Answer:
Verified
Correct Answer:
Verified
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