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What Is Price Escalation? Explain

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What is price escalation? Explain.


Definitions:

Liberalism

Originally, political philosophy that emphasized the protection of liberty by limiting the power of government to interfere with the natural rights of citizens; in the twentieth century, belief in an activist government promoting greater social and economic equality.

New Deal

A collection of initiatives, including public construction efforts, economic restructuring, and regulatory measures, implemented by President Franklin D. Roosevelt in the United States throughout the 1930s as a response to the Great Depression.

Unregulated Capitalism

An economic system without governmental oversight and regulation, where the market forces are unrestricted and determine the allocation of resources and distribution of goods.

Resettlement Administration

A New Deal agency created in 1935 designed to relocate struggling urban and rural families to communities planned by the federal government.

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