The combination of economic conditions-rising prices, rising interest rates, and high unemployment-that hit the oil-dependent Western nations as a result of the OPEC oil embargo became known as what?

Question

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Stagflation is the term used to describe the combination of stagnant economic growth, high unemployment, and high inflation, which was experienced by many Western nations during the 1970s as a result of the OPEC oil embargo.

The Combination of Economic Conditions-Rising Prices, Rising Interest Rates, and High