In the U.S., the rate of inflation associated with any given rate of unemployment was typically lower in the late 1990s and early 2000s than it was in the late 1970s and early1980s.

Question

Quizplus · Accepted Answer

During the late 1990s and early 2000s, the U.S. experienced a period of low inflation and relatively low unemployment, a contrast to the late 1970s and early 1980s when high inflation rates were accompanied by high unemployment, a phenomenon known as stagflation.

In the US, the Rate of Inflation Associated with Any Given Rate