Stagflation was a term adopted by economists in the 1970s to describe a
national condition of lagging economic growth, high rates of unemployment, and high rates of inflation.

Question

Stagflation was a term adopted by economists in the 1970s to describe a
 national condition of lagging economic growth, high rates of unemployment, and high rates of inflation.

Quizplus · Accepted Answer

Stagflation is indeed a term that was adopted in the 1970s to describe the unusual combination of stagnant economic growth, high unemployment, and high inflation, which contradicted the then-prevailing economic theories that suggested these conditions could not occur simultaneously.

Stagflation Was a Term Adopted by Economists in the 1970s