Stagflation in North American economies during the 1970s was triggered by what event?

Question

Quizplus · Accepted Answer

Stagflation in North American economies during the 1970s was triggered by OPEC-induced oil price increases. This led to both inflation and stagnant economic growth, resulting in high levels of unemployment and a decline in productivity. It was a significant challenge for policymakers at the time, who struggled to find ways to address the problem.

Stagflation in North American Economies During the 1970s Was Triggered