Stagflation is the simultaneous occurrence of substantial unemployment and inflation.
In the 1970s the U.S.economy experienced stagflation,in which the price level increased while the economy entered recession.

Question

Quizplus · Accepted Answer

Stagflation is indeed defined as the combination of inflation and high unemployment. The U.S. did experience stagflation in the 1970s, when the economy went through recession while also facing rising inflation.

Stagflation Is the Simultaneous Occurrence of Substantial Unemployment and Inflation