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Product Implicit Price Deflator 19291977
and the Consumer Price Index 19291977
The Domestic and International Aspects
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Abba Lerner adjustment aggregate demand argument average bundle capital commodities consumer controls program cost decline deficit direct controls disinflation domestic economists effect equilibrium excess demand expenditures explain fare firms fiscal policy Florida State University full employment functional finance growth higher incomes policy indexation industries inflation control inflation rate inflationary process Israel Keynes Keynesian labor market level of employment low full employment macroeconomic MAP-credit marginal utility ment monetarist monetary and fiscal money supply money wage natural rate necessities percent period Phillips curve Pigouvian tax political price increases price level price stability prices and wages problem Professor of Economics profit rate of inflation rational expectations real output real wages reduce reform result sector sellers inflation shift short run Sidney Weintraub stagflation theory tion trade unemployed unemployment union United utility of income wage increases wage rates wage-price wages and prices workers World