In the late 1970s interest rates soared but the economy, Microeconomics

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In the late 1970s interest rates soared but the economy

Question: In the late 1970s interest rates soared but the economy remained healthy. Why did higher interest rates fail to slow down the economy in 1977-8, but cause recessions in 1980 and 1981? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Microeconomics: In the late 1970s interest rates soared but the economy

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