Events of the 1970s and early 1980s showed that

Question

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The events of the 1970s and early 1980s, such as stagflation and the failure of the Phillips curve to accurately predict the relationship between inflation and unemployment, showed that a tradeoff between inflation and unemployment may not always exist. This suggests that lower inflation rates may not necessarily require higher unemployment rates, disproving the Phillips curve's assumption of a stable menu of choices.

Events of the 1970s and Early 1980s Showed That