Periods of rising inflation and falling unemployment have been followed by periods of rising unemployment and continued inflation; those periods have, in turn, been followed by periods in which both t...Periods of rising inflation and falling unemployment have been followed by periods of rising unemployment and continued inflation; those periods have, in turn, been followed by periods in which both the inflation rate and the unemployment rate fall. Relate what happens during the next two phases of the inflation—unemployment cycle to the maxim “You can fool some of the people some of the time, but you can’t fool all of the people all of the time.”
Periods of rising inflation and falling unemployment have been followed by periods of rising unemployment and continued inflation; those periods have, in turn, been followed by periods in which both t...Periods of rising inflation and falling unemployment have been followed by periods of rising unemployment and continued inflation; those periods have, in turn, been followed by periods in which both the inflation rate and the unemployment rate fall. Relate what happens during the next two phases of the inflation—unemployment cycle to the maxim “You can fool some of the people some of the time, but you can’t fool all of the people all of the time.”
