Examlex
Explain how government policies that redistribute income from the rich to the poor might reduce efficiency.
Stagflation
An economic situation characterized by prolonged high inflation combined with high unemployment and stagnant demand in a country's economy.
Depression
A severe and prolonged downturn in economic activity, characterized by significant decline in gross domestic product, high unemployment, reduced consumer spending, and deflation.
Inflation
The rate of increase in the average cost of goods and services, which results in a decrease in the value of money.
President Eisenhower
Dwight D. Eisenhower, the 34th President of the United States, who served from 1953 to 1961 and was known for his role in ending the Korean War and promoting infrastructure development.
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