a condition that is characteristic of a monopolistically competitive firm in short-run equilibrium is P > MC
A monopolistically competitive firm is inefficient because it does not produce at the lowest point on its average cost curve or where P = MC.
Profit in the near term, whether positive or negative. If marginal revenue is more than marginal cost, the company should raise output; if it is less, it should decrease output. When marginal revenue and marginal cost are equal, profits are maximized. When businesses generate a good economic profit in the near term, new businesses are drawn to the market in the long term by this profit. The overall supply of the commodity rises as more businesses enter the market. As a result, the equilibrium price falls, which lowers each firm's profit until each company makes no more economic profit, this process of new businesses entering the market and a drop in the cost of the product will continue.
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What is the authors purpose in Silent Spring?
The purpose of "Silent Spring," a book by rachel Carson, was to demonstrate how pesticides harm the environment. Carson demonstrates how pesticide chemicals can kill species that do not dwell close to them, such birds, especially eagles, by moving up the food chain.
She explains that by lingering in fat cells, where they degrade and impact other cells in the body, toxins can cause cancer in people. Carson provides natural alternatives as he wraps up the book.Both authors urge readers to prioritise conserving trees and defending human rights. With their pieces, they hope to both amuse and persuade readers of their point of view.
In "conserve the redwoods," by john muir, the author presents facts and data to persuade readers to rescue the sequoia, a type of tree, yet in "Silent Spring," by rachel carson, she invents a fictitious scenario about what life in the united states will be like if we don't save the environment. I'm fairly certain that there is a recurring element that best compares the author's objectives in "silent spring." "and "rescue the redwoods," the environment is a theme that runs through both tales. The moral of both of these tales is that we have a responsibility to protect the environment and to treat nature with care and caution.
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kara wants to subscribe to a streaming tv service. she spends a considerable amount of time researching netflix and sling tv. in the end she choses to subscribe to sling tv. now, however, she hears her friends talking about a great series that is only available from netflix and she wonders if she made the right decision. this scenario exemplifies the concept of
According to the research, the correct answer is post-purchase dissonance. Kara hears her friends talking about a great series that is only available from netflix and she wonders if she made the right decision. This scenario exemplifies the concept of post-purchase dissonance.
What is post-purchase dissonance?It alludes to the internal discomfort that a person suffers when the decision made is in conflict due to a feeling of non-conformity, doubt, regret regardless of the meaning of her decision.
In this sense, a consumer can sometimes experience after making a purchase when the selected product has certain drawbacks while each of the rejected alternatives has some attractive features.
Therefore, we can conclude that according to the research, post-purchase dissonance is a phenomenon that usually occurs after the purchase of the product or service due to the possibility of not having made the correct decision.
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Who is responsible for the payment of duties and taxes on imported goods?
Answer:The importer
Explanation:
A feature of sports is that they are _____.
A feature of sports is that they are Sites where racial and ethnic relations perpetuated and changed
The research of the social, political, and trade aspects between ethnicities and races at all levels of society is recognized as race and ethnic relations sociology. This profession studies systemic racism, such as segregation and discrimination and other complicated processes involving different racial and ethnic groups. In general, race refers to a group of people who share some visible physical characteristics, such as skin colour, hair texture, facial features, and eye formation.
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What did the Tennessee Valley Authority TVA and the public works?
The Tennessee Valley Authority was established by this act on May 18, 1933, to supervise the construction of dams for flood control, improved navigation, and the production of low-cost electricity in the Tennessee Valley basin.
Explain about the Tennessee Valley Authority?The TVA was contentious from the beginning, like many other New Deal initiatives. Power firms bitterly opposed the TVA because they thought the agency threatened free enterprise and supplied cheaper energy.
The Tennessee Valley Authority (TVA) is a U.S. government organization that was set up in 1933 to create electricity along the Tennessee River and its tributaries, manage floods, enhance navigation, raise farmer living standards, and regulate floods.
The show was criticized for sounding too socialist by its detractors. Conservatives viewed the TVA as an example of the federal government having too much power and control because of the government-created jobs and government-guaranteed payments it provided. The TVA was also condemned by independent electric firms.
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What is not a scrum event?
There is no explicit event in Scrum that addresses the refining of the product backlog.
Instead, according to the Scrum Guide, the "Scrum Team selects how and when refinement is done," and "refinement normally occupies no more than 10% of the Development Team's capacity."
Sprint Backlog: The selection of Product Backlog items for Sprint, as well as a strategy for delivering the product increment and achieving the Sprint Goal.
Scrum is a project management system that prioritizes collaboration, responsibility, and incremental advancement toward a clear objective. The framework starts with a straightforward directive: Begin with what is visible or understandable. After that, evaluate the results and make any required adjustments.
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raneem saw an ad in one of the magazines that she subscribes to for mobile klean, which is a product that can be used to clean surfaces within the home and can be carried in a purse or pocket. since raneem worries about germs on her mobile phone, she was drawn to the ad. what step of the aida model is described in this example?
According to the statement the step of the AIDA model is described in this example is desire.
Where can I obtain several publications for nothing?Before they are discarded, your local retailers and libraries might be ready to offer you outdated issues of magazines for free. This might be a particularly excellent choice for you when you require magazines in large quantities for learning or creative reasons or if you don't care about getting the most recent edition.
Briefing:Getting your customer to take the first action is the final phase in the AIDA methodology. Brilliant pr should inspire people to act IMMEDIATELY by creating a sense of urgency.
Raneem is at the AIDA model's desire phase by subscribing to Mobile Klean.
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The complete question is-
Raneem saw an ad in one of the magazines that she subscribes to for Mobile Klean, which is a product that can be used to clean surfaces within the home and can be carried in a purse or pocket. Since Raneem worries about germs on her mobile phone, she was drawn to the ad. What step of the AIDA model is described in this example?
a. Desire
b. Interest
c. Action
d. Attention
an account that allows you to save money, as well as make deposits and withdrawals.
an account that allows you to save money, as well as make deposits and withdrawals. A checking account
What is a checking account, exactly?
Checking accounts at financial institutions allow for both deposits and withdrawals. Checking accounts, often referred to as demand accounts or transactional accounts, are reasonably liquid and accessible in a number of ways, such as through checks, automated teller machines (ATMs), and electronic debits. In contrast to other bank accounts, a checking account typically allows limitless withdrawals and deposits, but savings accounts could occasionally impose restrictions on both.
A checking account might be useful for anyone who frequently has to make withdrawals or transactions from a bank account. Typically, opening a checking account is a quick and simple process. A bank office is where you can apply in person or online.
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Why are the four factors of production important to economic growth?
Economic growth is a result of all production forces. Without raw ingredients, no product can be produced (land). Without labour, such resources cannot be harvested, processed, or converted (labor). Without tools and equipment, those people cannot do their work (capital).
What is meant by economic growth?According to the description at Investopedia, economic growth is an increase in the production of economic commodities and services from one time period to another. Economic growth refers to the rise in the cost of an economy's goods and services, which increases revenue for companies. Stock prices increase as a result. By having more money, businesses can make investments and recruit additional workers. Income increases with the creation of more jobs. Economic growth is the gradual rise in the value of the products and services an economy produces over time. The increase in GDP, or gross domestic product, is calculated as a percentage.To learn more about Economic growth, refer to:
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Ways to record money out using QBO include: a. Enter Bill > Pay Bills b. Check c. Expense d. Purchase Order > Bill > Pay Bills e. All of the above
Ways to record money out using QBO include all of the above. Option (e) is correct.
What do you mean by Bill?An accounting document that details the price a customer must pay for a good or service is referred to as a "bill." It is also regarded as a reminder for payments. Before the payment is delivered, a bill is issued, and it is used once and right away.
Interest Earned, Investments from Owners, Bill > Pay Bills, and Purchase Order > Pay Bills are the four main methods that QBO records money out.
You can enter future-payable transactions in QuickBooks, such as expenses spent, materials bought, or services rendered by a vendor. You can keep track of all your accounts payables in this way, knowing which bills need to be paid when and when. Select Enter Bills from the Vendors menu.
A chronological list of your cash transactions should be kept in your cash receipts journal. Record each monetary transaction in your cash receipts journal using your sales receipts. The sales tax you gathered shouldn't be entered in the cash receipts diary. This needs to be noted in the sales.
Therefore, Option (e) is correct. Ways to record money out using QBO include all of the above.
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Compare revolving credit and closed-end credit.
a. car lease
b. credit cards
c. mortgage loan
d. home-equity line of credit
1. Revolving credit
2. Closed-end credit
Revolving credit - credit cards, home-equity line of credit
Closed-end credit - car lease, mortgage loan.
Debt instruments that are bought for a specific purpose and a predetermined period of time are considered closed- end credit. The person or entity must repay the entire amount of the loan, including any interest payments or conservation costs, at the end of a pre-determined period. A specified credit limit is given to the borrower when a lender grants revolving credit. This cap is determined by the customer's income, credit history, and credit score. When the account is opened, the borrower is free to use it anyway they see fit. Until it's closed by either the lender or the borrower, the account is open.
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Which are indicators that economist used to measure how an economy grows?
In addition to GDP, the Consumer Price Index (CPI), that also measures pricing power as well as inflation, and the Monthly Unemployment Report, which includes weekly non-farm payrolls, are two of the most important measures of economic growth.
An economic indicator is indeed a piece of economic data, typically on the macroeconomic scale, that analysts use to interpret future or current investment opportunities. These indicators can also be used to assess an economy's overall health.
Economic indicators may be anything the investor wants them to be, but specific data provided by the government and non-profit organisations has become widely followed. Economic indicators could be classified or grouped. Most of these economic indicators have such a set release schedule, allowing investors to plan for and anticipate seeing certain information at specific times of the month and year.
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which of the following would be considered a supply-side policy? group of answer choices an increase in government regulations that require businesses to internalize pollution costs decreasing taxes to increase the incentive to work an increase in government spending that would lead to increased aggregate demand increasing the amount of social security contributions paid by businesses to help fund the social security program
Option C) investment tax credits for businesses to encourage investment would be considered a supply-side policy.
Supply-side policies are policies aimed at increasing the productivity and efficiency of the economy. The goal of supply-side policies is to increase the economy's productivity and trend growth.
The idea is that better economic performance drives economic growth. Supply-side policies aim to address market imperfections to make production more efficient and reduce inflationary pressures.
It increases productivity, reduces unemployment, reduces inflationary pressure, sustainable growth, increases economic growth and competition.
Here, investment tax credits for businesses in order to encourage investment is considered a supply-side policy.
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Complete Question:
Which of the following would be considered a supply-side policy?
A) an increase in the minimum wage that would cause consumer spending to increase
B) an increase in government spending that would lead to increased aggregate demand
C) investment tax credits for businesses to encourage investment
D) a decrease in the growth of the money supply
a company produces a part at the rate of 200 units per day. daily usage (demand) for the part is 40 units. the cost to setup for a production run is $250 and holding cost is thought to be $1.20 per unit per year. annual demand is 12,000 units and is constant over the 300 days a year the company is operating. if the company produces this part according to the optimal production run quantity (q) then the number of production runs per year would be: group of answer choices 12
The correct answer is D ; 4.8
Daily demand =40
Annual demand =12000
cost per order=set up cost=250
holding cost per unit per year =1.2
Number of working days =300
Annual production rate =Daily production rate * Number of working days=200*300=60000
Economic production quantity is given by the formula ,
EPQ=sqrt[2*Annual demand*cost per set up/(1-demand rate/production rate)*holding cost per unit per year)]
=sqrt[2*12000*250/(1-40/200)*1.2]
=[2*12000*250/(0.8)*1.2]
=[2*12000*250/0.96]
=2500 items per run
Number of production runs=Annual demand/EPQ=12000/2500=4.8
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Full Question ;
A company produces a part at the rate of 200 units per day. Daily usage (demand) for the part is 40 units. The cost to setup for a production run is $250 and holding cost is thought to be $1.20 per unit per year. Annual demand is 12,000 units and is constant over the 300 days a year the company is operating. If the company produces this part according to the optimal production run quantity (Q) then the number of production runs per year would be:
A 12
B 8.6
C 6.3
D 4.8
A firm with alliance management capability is able to effectively manage which of the following tasks? (Check all that apply.)
a. purchase of the alliance partner
b. alliance design and governance
c. post-formation alliance management
d. partner selection and alliance formation
A firm with alliance management capability must effectively manage alliance design and governance, post-formation alliance management and partner selection and alliance formation
A firm with alliance management capability must effectively manage -
Alliance design and governance: This involves defining the scope and goals of the alliance, and establishing the decision-making processes and communication protocols used to manage the alliance.
Partner selection: It is important to carefully select partners who are aligned with alliance objectives and who have resources and expertise to contribute to its success.
Alliance formation: The process of forming an alliance involves negotiating and finalizing the terms of the agreement, and establishing the mechanisms for collaboration and communication.
Post-formation management: Once the alliance is formed, it is important to actively manage and maintain the relationship to ensure its ongoing success.
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Given that C = $1,000 + 0.60YD, if the level of disposable income is $1,000, the level of saving is
$600.
$400.
-$600.
-$300.
Answer:
$600
Explanation:
If the level of disposable income is $1,000, then the level of saving is given by the equation C = $1,000 + 0.60YD.
Substituting the value of disposable income, we get:
C = $1,000 + 0.60YD
= $1,000 + 0.60 * $1,000
= $1,000 + $600
= $1,600
Therefore, the level of saving is $1,600 - $1,000 = $600.
What would happen if government increases spending and simultaneously increases taxes by the same amount to balance the budget?
The following is a brief summary of the balanced-budget multiplier: Production will rise at the same rate as spending and taxes are increased by the government.
What happens if both taxes and government spending go down the same amount?The output will decrease by the multiple of the multiplier for government spending and rise by the multiple of the multiplier for taxes if both fall by the same amount. As a result, spending and taxes fall in proportion to output.
What happens when the government spends more money?Keynesian economics holds that increased spending by the government raises aggregate demand and consumption, resulting in increased production and a quicker recovery from recessions.
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How can I get a loan with no job?
Starting with your own bank or credit union is the best option. You can also inquire about assistance from internet lenders, but you'll need to do some research on which lenders provide loans that are appropriate for your situation.
How can an unemployed person get a loan?The lender will take into account your income, credit history, and outstanding debts when you apply for a personal loan.
For the purposes of this article, we'll assume that your credit score meets the minimum standard set by the lender.
In addition to any existing debt payments you already have to make in light of your commitments and income, the lender wants to ensure that you will have enough money coming in to repay the new loan payment.
To be eligible for an unsecured loan, your income does not need to come from a job. Many other things could contribute to your income. Even without any income, you can get authorized for a secured loan.
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Who is responsible for prioritizing the iteration backlog?
Prior to new release planning, the Product Owner (PO) will have organized some preliminary generation goals, based on the team's growth in the Program Increment (PI) so far.
Typically, the Product Owner starts the event through reviewing the proposed iteration goals and the higher-priority tales in the crew backlog.
Who is responsible for prioritized product backlog?The product owner
The product proprietor prioritizes the backlog at the start of the project, but does not adjust it as remarks rolls in from builders and stakeholders. The group limits items on the backlog to those that are customer-facing.
The generation backlog, consisting of the stories committed to for the iteration, with honestly defined acceptance criteria. A announcement of Iteration goals, normally a sentence or two for every one, mentioning the enterprise objectives of the iteration. A commitment with the aid of the crew to the work wanted to achieve the goals.
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https://brainly.com/question/30034011#SPJ4A safety and health program should be: A. Consistent with standard industry-wide programs B. Personalized and tailored to the specific job hazards at a workplace C. Written in a way so that it will never need to be changed D. Written so that it can be used by all facilities of an single organization
The correct answer is B. Personalized and tailored to the specific job hazards at a workplace.
A safety and health program should be tailored to the specific hazards and conditions at a workplace, rather than being based on a standard industry-wide program. It should be written in a way that is easy to understand and follow, and it should be updated as needed to reflect any changes in the workplace or new hazards that may arise. It should not be written in a way that is inflexible and cannot be modified to meet the changing needs of the workplace.
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why might a military taxpayer want to consider making contributions to the military thrift savings plan while deployed to a combat zone? nontaxable combat pay is
D) Not taken into account when calculating the savers' credit in agi. Consequently, the contributions to the military thrift savings plan may enhance the tax advantages of retirement savings.
You are contributing tax-free earnings to the TSP in the conflict zone. This not only gives you a huge advantage over compounding.
But it also means that you can put more money into your TSP account instead of "contributing" it to the income-tax fund of the U.S. Treasury through tax returns and withholding.
Military: How does TSP work?
3% of your basic pay is deducted from your paycheck each pay period and deposited in the traditional balance of your TSP account if you are a member of the uniformed services and started serving on or after January 1, 2018, and your service automatically enrolled you in the TSP (or will once you have served 60 days).
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Full Question = why might a military taxpayer want to consider making contributions to the military thrift savings paln while deployed to a cpmbat zone? nontaxable combat pay is
a a good source of funds to help the tax payer increase his or her tax basis in the military thrift savings account.
b subject to fica taxes and contributions to the military thrift savings plan can defer fica tax on at least some of the combat pay.
c not included in agi for purposes of deteriming taxability of current contibutions to the military thrift savings plan. therefore the taxpayer can pay tax on his or hers current contributions at a lower rate.
d not included in agi for purpose of determing the savers credit. therefore the contributions to the military thrift savings plan may increase the tax benefits of saving for retirement.
Final Assessment Questions (40 of 45) SUBMIT A data governance system is effective if:
O Anyone can access the data when they need it.
O There are strict rules prohibiting access to data.
O Data used in decision making is of consistent quality and from reliable sources
O There are no data breaches.
A data governance system is effective if anyone can access the data when they need it. Thus option (A) is correct.
What is data?The data is the processed form of raw information, more specifically it has facts, figures, measurements and amounts that is gathered for analysis or reference. So that a conclusion can be drawn in a proper way.
The data, especially facts or numbers, collected to be examined and considered and used to help decision-making, and the data can be stored in an electronic form in the database and used by a computer in the future.
Like a data governance system is effective if anyone can access the data when they need it. Therefore option (A) is correct.
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How do oligopoly firms compete?
Oligopolists may employ predatory pricing to drive competitors out of the market. This entails artificially keeping prices low, often below the full cost of production.
An oligopoly is a market in which a small number of firms recognise their interdependence in pricing and output policies. Because the number of firms is small, each firm has some market power. Automobile manufacturing is another example of an oligopoly, with the top three automakers in the United States being Ford (F), General Motors (GM), and Stellantis (the new iteration of Chrysler through mergers).
Oligopolies typically form in industries with a small number of influential players, none of whom can effectively push out the others. These industries are typically capital-intensive, with additional barriers to entry such as regulation and intellectual property protections.
If the conditions are favourable, oligopolistic firms will realise that they are best served individually not by competing tooth and nail, but by coordinating and cooperating with one another to a certain extent or in specific areas of business.
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Pamela called nine repair shops for quotes for auto repairs. The prices are $139, $150, $345, $99, $167, $155, $140, $200, and $160. She calculates to find there are no outliers in the data.
The best proportion of focal propensity to utilize is the middle, and the worth that best addresses the proportion of focal inclination is 155.
The costs are given as:
$139, $150, $345, $99, $167, $155, $140, $200, and $160
The mean of a dataset can be impacted by an exception; in any case, the middle of a dataset can't be impacted by exceptions.
Thus, the best proportion of focal propensity to utilize is the middle.
To calculate the median, we start by arranging the dataset in ascending order
$99, $139, $140, $150, $155, $160, $167, $200, $345
Then, at that point, we select the center component as the middle.
Consequently, the middle cost is $155.
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This question is not complete , here I am attaching new questions:
Pamela called nine repair shops for quotes for auto repairs. The prices are $139, $150, $345, $99, $167, $155, $140, $200, and $160. She calculates to find there are no outliers in the data may be biased. Which measure of central tendency should she choose and what value would best represent the central tendency?
1. Overhead application is recorded with a Select one: a. credit to Manufacturing Overhead b. credit to job cost sheets c. credit to Work in Process Inventory d. debit to Manufacturing Overhead
The concept mentioned here is Overhead, which is an ongoing expense of operating a business. The answer is option A, credit to Manufacturing Overhead.
Overhead refers to the ongoing business charges not directly attributed to creating a product or service. It's important for budgeting purposes but also for determining how much a company must charge for its products or services to make a profit.
While direct costs relate to charges that are incurred when delivering a product or service, overhead costs are effects your business pays for, anyhow of whether you are delivering one unit or millions. Outflow costs are important in determining how much a company must charge for its products or services in order to induce a profit.
Manufacturing overhead is all circular costs incurred during the production process. This outflow is applied to the units produced within a reporting period.
The manufacturing above doesn't include any of a business's selling or executive functions. Therefore, the costs of similar particulars as commercial hires, inspection and legal freights, and bad debts aren't included in the manufacturing outflow.
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Why does the Fed increase the money supply during a recession?
To ward off a recession, the Fed has a number of monetary policy tools at its disposal. In order to boost demand and raise the amount of money, interest rates might be lowered.
Why does the Fed raise the money supply when the economy is struggling?During a recession, monetary policy aims to boost overall demand by accelerating the expansion of the money supply. According to the idea of liquidity preference, decreasing interest rates will result from expanding the money supply. Higher investment spending results from lower interest rates, which raises overall demand.
What would motivate the Fed to expand the money supply?the Fed uses its resources to regulate the money supply in order to support economic stability. The Fed boosts the amount of money available when the economy is struggling to promote growth On the other hand, when inflation is a risk, the Fed lowers the risk by reducing the supply.
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what questions might you ask to learn more about the company? check all that apply. what training programs are available from this organization? how is job performance evaluated? what is the organizational structure and where does this position fit in? how long do employees generally stay with this organization?
What makes me desirable in today's job market? and What would my instructors say is my greatest strength?
What does the term "company" mean?A organization is a legal person that a group of people to conduct and manage a business venture, whether it be corporate or industrial. Depending here on corporate legislation of its country, a corporation may be set up in a variety of ways including tax and financial responsibility reasons.
What does "enterprise" mean?Due to the desire of its employees to create value, a business is referred to as a firm. Romans is the root of the word "produce," meaning means to lead forth or push forth. Old French, which means campaigned or camaraderie, is where the word "company" first arose. Additionally, the word "business" has its roots in Old English, which blends busy with -ness.
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powers company reported net sales of $1,200,000, average accounts receivable net of $78,500, and net income of $51,025. calculate the accounts receivable turnover ratio.
The accounts receivable turnover ratio for this company is 15.32. The accounts receivable turnover ratio is typically used by investors and analysts to assess the creditworthiness and financial stability of a company.
This ratio measures how quickly the company is able to collect payments from its customers. A higher ratio indicates that the company is able to collect payments more quickly, while a lower ratio indicates that it takes longer for the company to collect payments. The accounts receivable turnover ratio is a financial metric that measures how quickly a company is able to collect payments from its customers. It is calculated by dividing the net sales of the company by the average accounts receivable over a specific period of time, usually a year.
To calculate the accounts receivable turnover ratio, you need to divide the net sales by the average accounts receivable. In this case, the calculation would be:
1,200,000 / 78,500 = 15.32
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a $7,000 bond with semiannual coupons is redeemable for $7,700 in fifteen years. it has a nominal coupon rate of 5.5%. the bond is purchased to yield 8% per annum compounded semiannually. find the price of the bond, the amount for accumulation of discount in the tenth coupon, and the amount of interest in the tenth coupon payment. (round your answers to the nearest cent.)
The bond's current yield is 6.7%
What is meant by bond?A bond is a borrower's pledge to repay a lender with the loan's principle and, typically, interest. Municipalities, businesses, and governments all issue bonds. A bond is a type of debt security, much like an IOU. In order to raise money from investors who are ready to provide a loan to them for a specific period of time, borrowers issue bonds. Purchasing a bond entails lending money to the issuer, which could be a corporate, government, or local authority.Treasuries, which are the safest bonds but have low interest rates and are typically sold at auction, treasury bills, treasury notes, savings bonds, agency bonds, municipal bonds, and corporate bonds are some examples of bonds (which can be among the most risky, depending on the company).
The bond's current yield is 6.7% ($1,200 annual interest / $18,000 x 100).
The complete question is
say a bond has a face value of $20,000. You buy it at 90, meaning that you pay 90% of the face value, or $18,000. It is 5 years from maturity.
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What is difference between stagflation and inflation?
The occurrence of both inflation and economic stagnation at the same time is known as stagflation. Price increases for goods and services over time are referred to as inflation. High economic growth and employment are caused by inflation, but slow economic growth and high unemployment are caused by stagflation.
What is stagflation?Stagflation, sometimes known as recession-inflation, is an economic condition in which the unemployment rate is consistently high, the inflation rate is high or rising, and the rate of economic growth is slow. For economic policy, it creates a conundrum because measures taken to reduce inflation may make unemployment worse. In 1965, when the UK was experiencing both high inflation and rising unemployment, Macleod used the phrase in a speech to the British Parliament. Despite the fact that John Maynard Keynes did not coin the phrase, some of his writings make reference to the circumstances that most people would associate with stagflation. In the Keynesian macroeconomic theory that predominated from the conclusion of World War II until the late 1970s, inflation and recession were thought to be mutually exclusive, with the link between the two being modeled by the Phillips curve.
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