Periods of high unemployment and high inflation are called stagflation.
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Q234: Wages tend to fall, or at least
Q235: The original Phillips Curve is consistent with
Q236: The original Phillips Curve is consistent with
Q237: The original Phillips Curve shows an immediate
Q238: If the Phillips Curve is always true,
Q240: The cost-push story of inflation is not
Q241: Demand-pull inflation requires an accompanying increase in
Q242: The original Phillips Curve trade-offs between inflation
Q243: When there is demand-pull inflation, cyclical unemployment
Q244: The original Phillips Curve trade-offs between inflation
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