Problem
The dollar declined sharply in 1973-4 and 1977-8, and those declines were accompanied by sharply higher inflation. However, when the dollar declined even more sharply in 1986-8, the rate of inflation did not rise at all. What explains the different behavior of inflation in those two periods?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.