Inflation in the US economic history, impact in supply, supply shocks, and Phillips curve

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In the late 1700s, the newly fashioned United States experienced a significant economic and social change from agriculture to industry especially the Industrial Revolution. The industrial revolution led to the extensive growth in agriculture thus leading to enormous growth in the US including economic, population, and territory might. Significant aspects that contributed to inflation include the corrupt politicians as well as the unscrupulous businessmen…

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