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Question
The period of high inflation, high unemployment and low economic growth is termed as _____.
The period of high inflation, high unemployment and low economic growth is termed as _____.
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Solution
The correct option is C stagflation
A condition
of slow economic growth and relatively high unemployment – economic stagnation
– accompanied by rising prices, or inflation, or inflation and a decline in
Gross Domestic Product (GDP). Stagflation is an economic problem defined in
equal parts by its rarity and by the lack of consensus among academics on how
exactly it comes to pass.
A condition of slow economic growth and relatively high unemployment – economic stagnation – accompanied by rising prices, or inflation, or inflation and a decline in Gross Domestic Product (GDP). Stagflation is an economic problem defined in equal parts by its rarity and by the lack of consensus among academics on how exactly it comes to pass.
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