Analyse the main costs of inflation
During the 1960's and 70's European governments, instituted various wage and price controls to reduce inflation. As the inflation grew, Governments perceived it as a greater problem. Within the UK, in the 1980's as the inflation was reaching double figures, voters claimed that it was "public enemy number one." consequently the prime minister, Margaret Thatcher, adopted various extreme measures to combat inflation, which resulted in massive industrial, and political unrest, along with mass unemployment. But as a consequence of these measures, inflation was suppressed, which encouraged her…
- Analyse the main costs of inflation
- How are automatic stabilizers used to combat inflation
- What are the reasons for, and costs and benefits of microeconomic reform for Australia? Evaluate its effectiveness.
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