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What Did Milton Friedman and Edmund Phelps Predict Would Happen

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Essay

What did Milton Friedman and Edmund Phelps predict would happen if policymakers tried to move the economy upward along the Phillips curve? Did the behaviour of the economy in the late 1960s and the 1970s prove them wrong?


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Food items that contain substantial amounts of spices or chili peppers, which give a hot and pungent flavor.

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