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Some countries have had high inflation rates for a long time and other countries have had low inflation rates for a long time.Yet in some of the high inflation countries the average unemployment rate has been about the same or sometimes higher than in the low inflation countries.Explain how these observations can be consistent with the Phillips curve.
Model Factory Village
A planned community designed during the Industrial Revolution to house factory workers, often including amenities and facilities intended to improve workers' living conditions and productivity.
Public Education
Education that is provided by the government to all individuals at no cost, funded by taxpayer dollars, and available to everyone within the jurisdiction.
New Harmony
Community founded in Indiana by British industrialist Robert Owen in 1825; the short-lived New Harmony Community of Equality was one of the few nineteenth-century communal experiments not based on religious ideology.
Common Good
A concept suggesting that certain goods, beneficial outcomes, or policies are universally advantageous to all members of a community or society.
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