Answer:
Causes of stagflation in 1970:
1. The increase of oil prices and consequent increase of gasoline prices this phenomenon is known as cost push inflation.
2. Higher level of unemployment
Explanation:
Stagflation is the lethargic economic growth, depicted in factors such as high unemployment, happening while there are high rates of inflation in a given economy.
In 1970 the United States economy experienced stagflation because the oil prices reached historical high prices increases the cost of gasoline as well. As oil is the main raw material for producing gasoline the increase of oil prices caused a cost push inflation.
Usually economist believed that inflation was desirable as it was caused by the increase of demand, which mean that employment was being generated and therefore the need for consuming more goods and services was a logical explanation of the increase in demand. However, during the 70's this increase was the result of an externality (the increase of oil prices). At the same time the levels of unemployment rose in that decade creating the stagflation of the United States Economy.
Answer:
November 1, 1993, Maastricht, Netherlands
Explanation:
This is because Hinduism was highly associated with the Caste System which was a social structure which India adhered to prior to its abolition. It states that the higher your caste, the more likely you are to be able to achieve moksha. If you are in a lower caste, it is because you recieved bad karma in your previous life.
Answer:
The Palestinian Liberation Organisation (PLO) was founded in 1964 with the purpose of liberating Palestine, achieving Palestinian self-determination, and securing the return of the refugees. It was conceived at an Arab League summit in Cairo, and backed the use of armed struggle to achieve its goals.
Explanation: