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  • But inflation is now so pervasive that despite any trade-offs, the net effect will have to be rising prices.THE 1970sVery much like present times, the 1970s combined stagnation and inflation, notably in skyrocketing gas prices, giving rise to the term ???stagflation.??? What was different about the 1970s, though, is that government and consumer debt were relatively moderate, with both government a
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