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THE RATIONALE FOR FREE MARKETS
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aggregate demand American areas argued assumption attempt average bargaining become behavior business firms competitive model concerning consumer continued corporations cost push inflation creased decrease degree demand pull demand pull inflation differential economists economy effort employees equity excess extent fact factors Frictional unemployment full employment further Furthermore goal groups guidelines guideposts high unemployment higher impact improve incomes policy increasing prices increasingly industry inflationary pressures investment Keynesian labor force labor market labor unions less level of unemployment market controls market forces market power ment output percent perfectly competitive persons Phillips Curve ployment poverty Price Commission price controls price increases price index price level price system prices and wages problem productivity increases profits programs reason restraints result rise shift simply situation spending stable prices supply theory thereby trade-off unem unemploy unemployment and inflation unemployment rate union power union sector wage and price wage increases wage rates workers worsening