A period characterized by declining inflation and unemployment is called a
A) economic growth phase.
B) stagflation phase.
C) recovery phase.
D) Phillips phase.

Question

Quizplus · Accepted Answer

A period characterized by declining inflation and unemployment is typically called a recovery phase, as the economy is recovering from a recession or downturn. Economic growth phase refers to a period of sustained economic expansion and increasing output, while stagflation phase refers to a situation where there is stagnant economic growth and rising inflation. Phillips phase is not a commonly used economic term.

A Period Characterized by Declining Inflation and Unemployment Is Called