Id 11 Afc )e Iloilo Kont, r, ‘oldliiip. ' three 'iddenS ear d a Sii he’d lx, and was in h. 1 where n r own hn 'tcordine d. Becau >d, relati' n the hoi r meals, irked style,toward 9 percent, Ms step fe ety for lost veils be'fff. would ma; ies affecfc conduct^ tors inten 'ery eager frustrate! >d chemifi a Harvsi it e lowanJ: ie hospilt tal o be be: ntral rnoon at a session of the Student tern is less efficient. It is not as easy to determine relative prices in an in flationary period, which tell us where to spend money and what to produce, he said. Burns listed four phases concern- Dr. Joseph E. Burns ing the relationship between unem ployment and inflation. The first, which he called a theoretical notion, is that there is a “permanent trade-off” between the two. Phase two states that the tradeoff between the two is only temporary. Burns said if policy makers at tempt to reduce the unemployment rate by stimulating economic policy, unemployment will only decline for a short period of time. “The adjust ment period brings uncertainty,” he said. In phase three, the higher rate of inflation pushes the unemployment rate higher and does not return to the original rate of unemployment. “So efforts to reduce the unemploy ment rate by stimulative monetary fiscal policy are not actually counter productive. They lead only to a higher rate of inflation, which in turn leads to higher unemployment rate than would exist if nothing had been done. Phase four does not acknowledge that there is a relationship between the two and is known as the “ra tional expectations theory.” Burns mentioned this fourth phase briefly “only for completeness. int or she! inference on National Affairs; aid. We ll probably continue to iuddle along much as we have with standard of living slowly being roded,” said Dr. Joseph E. Burns, :nior vice president of the Federal eserve Bank of Dallas. Economists can’t even agree nong themselves, so not only does tke man on the street hear one story |e doesn’t understand, he hears two (irthree,’ he said. Burns’s speech, “The Inflation- nemployment Problem, ex- lained the basic causes of inflation Jnd its relationship with unem ployment. The results in the research done fi this subject are neither definitive [r a unanimous agreement. It’s the pisunderstanding of the problem vhich allows the problem to per- ls h Burns said. The goal for the average citizen of ie United States is the highest pos- We standard of living, he said. ^Reduced levels of unemployment Pprove standard of living, he said, smaller amount of goods pro- the blast'freed, less income is generated. Las Vegasfress pie has been produced to be st was cwfrtributed among the same number I* People.” maxinui®jWhen speaking on inflation, 150,000fr u ms said, “Unexpected changes in Inces are costly and disruptive to ntsofatrtC e economy. Expected rates of in- i which pjjf at ' 0n can be planned for and can d testinjlfr USe little disruption. He said the srvedten®!.Expected change causes an in- :h of l9^ t p r eiise in uncertainty, n ratifi^E ”' s uncertainty causes the busi- A e ssman to spend more time trying P e dge against inflation and less Me toward his business.” ouseholds also attempt to hedge fnst inflation. Burns said. “They ac e more of their wealth on 10us es, durable goods and real es- elied on said wit uh ltd r ad national » v , — Si :ed the f :ar test wl n 20 detonated om of a 1 e Nevada!' FOSTER STAINED GLASS STUDIO Largest Selection of Stained Glass Supplies Etching Workshop Saturday 9-12 (Call to reserve your place) 2801 S. College 779-5864 M-Sat. 9:30-5:30 MANOR EAST 3 FRI.-SAT. MIDNIGHT WELCOME TO THE 23™ CENTURY. The only thing you cant hove in this perfect world of total pleasure is your 30th birthday. icluding ound ki* ie helic°P ! ; camera d with s| levices °f Eneifre lather than financial assets, ati0D*|l as deposits, stocks and bonds. dh the reduced incentive to Ve - a nd invest- c\/s- Logon is 29. METRO-GOLDWYN-MAYER presents A SAUL DAVID PRODUCTION LOGAN S RUN stamnn MICHAEL YORK ■ JENNY AGUTTER • RICHARD JORDAN • ROSCOE LEE BROWNE FARRAH FAWCETT-MAJORS & PETER USTINOV • screenplay by DAVID ZELAG GOODMAN F ^,SL A A N c, a ^Sl CLAYT0N J0H 2L N Produced by SAUL DAVID - Directed by MICHAEL ANDERSON MGM |PG Filmed inTODD-AO and METR0C0L0R |NOW A bantam Bog^P Release<)ih , u ' United Artists sre. The led for W] 3 d becaitf totai nui* mnounceHl >9 te** ding P re ' fl Sedby; •e Radi* 11 jniversfo knov •nation 111 s larges 1 J 1 * everh ve(l Pl ex ' sl l nay be Sun Theatres 333 University 846-9808 The only movie in town Double-Feature Every Week Vf Open 10 a.m.-2 a.m. Mon.-Sat. 12 Noon - 12 Midnight Sun No one under 18 Escorted Ladies Free BOOK STORE & 25c PEEP SHOWS Batt Classifieds Call 845-2611* * * * * * * i * i * * * * * *■ * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *■ * * * * * * * MANOR EAST 3 DOLBY STEREO | ® Cunt KING * 1 Eastwood OF1HE * WILL TURN YOU CHPSIH its ALMOST his time * + * ‘Every IRI (OWTtBMt AMOUNT + Which Way But Loose’ A MALPASO COMPANY FILM ^ Distributed by WARNER BROS ALL RIGHTS FESE/MED If JF * ah SKYWAY TWIN WEST COIN’ SOUTH PLUS CITIZEN’S BAND EAST OLIVER’S STORY PLUS FIRST LOVEU * * * * * * * * A. * CAMPUS - PARADISE ALLEY STARRING SYLVESTER STALLONE FRI.-SAT. MIDNIGHT: ROCKY HORROR * * * * * * * J+ * * * * * * * * * * MSC AGGIE CINEMA \ l^^Catchit Friday & Saturday 8 p.m* Feb. 16 & 17 Auditorium Friday Midnight WHICH WAY IS UP? Richard Pryor rated R February 16 Auditorium TP PLITT Southern UNIVERSITY SQUARE SHOPPING CENTER 846-6714 8. 846-1151 CINEMA * WOODY ALLEY DIANE KEATON Mr M iH “LOVE and DEATH” A JACK ROLLINS—CHARLES H.JQFFE PRODUCTION Produced by CHARLES H. JOFFE Written and Directed by WOODY ALLEN PGlPARENTAL GUIDANCE SUGGESTED! United Artists SOME MATERIAL MAY NOT BE SUITABLE FOR PRE TEENAGERS « Friday & Saturday Midnight Shows ^ ^5 piVE WINNER 1972 CANNES FILM FESTIVAL JURY PRIZE AWARD Only American Film to be so Honored Billy Pilgrim lives from time to time to time... fCniirTIIIITTTHIIIlIIIIlUlllP