In the 1970s, the economy was plagued with both high unemployment and high inflation. This was known as which of the following?

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Quizplus · Accepted Answer

Stagflation is a combination of stagnation (high unemployment and slow economic growth) and inflation (rising prices). The 1970s were marked by stagflation due to a combination of factors such as high oil prices, government spending, and wage increases.

In the 1970s, the Economy Was Plagued with Both High