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Briefly Explain the Cause of the Great Inflation in the 1970s

question 86

Essay

Briefly explain the cause of the Great Inflation in the 1970s.


Definitions:

Implicit Influence

Refers to the subtle or indirect impact that affects individuals' attitudes, beliefs, or behaviors without their conscious awareness.

Conversion Theory

A psychological theory suggesting that minority groups can influence the majority through consistency and confidence in their viewpoints.

Instantaneously

Occurring or done in an instant or immediately, without any noticeable delay.

Consensus

A general agreement among members of a group or the process of reaching such an agreement.

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