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    Economics Principles and Policy Study Set 2
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    Exam 33: The Trade-Off Between Inflation and Unemployment
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    In the 1970s, Why Did the Short-Run Phillips Curve Fail
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In the 1970s, Why Did the Short-Run Phillips Curve Fail

Question 72

Question 72

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In the 1970s, why did the short-run Phillips curve fail to depict the unemployment-inflation trade-off?

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The 1970s were affected by the twin OPEC...

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