UK Recessions and Stagflation Following the 1970s Oil Shocks
The United Kingdom endured two significant recessions during the 1970s, each triggered by the major oil shocks of 1973–1974 and 1979–1980. These periods were marked by stagflation, as both inflation and unemployment surged to their highest rates since the Second World War. As a result of these economic downturns, UK unemployment continued to climb, eventually reaching a peak of nearly 12% in the mid-1980s.
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Introduction to Macroeconomics Course
Ch.4 Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
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UK Recessions and Stagflation Following the 1970s Oil Shocks
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Learn After
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