Word: acceptableâ
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Dates: during 1974-1974
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...these pressures, some economists throw up their hands and contend that the best way to deal with inflation is to accept it as permanent and make adjustments to anesthetize the pain.* That is a counsel of despair. Such an approach tends to make, say, a 6% inflation rate officially acceptable???and, with that established as a base, other pressures will push the real rate...
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