What economic problem plagued the American economy in the 1970s?

Name: What economic problem plagued the American economy in the 1970s?
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Stagflation, a term that combines stagnation with inflation, describes the unique situation in the 1970s where the American economy experienced high inflation alongside high unemployment and stagnant demand. This contradicted the then-prevailing economic theories, which suggested that inflation and unemployment were inversely related.

What Economic Problem Plagued the American Economy in the 1970s