What do you mean by stagflation?

What do you mean by stagflation?

Approved answer

Understanding Stagflation

Stagflation refers to the occurrence of slow economic growth, elevated unemployment rates, and increasing inflation simultaneously within an economy. Once regarded as implausible by economists, stagflation has become a recurring phenomenon in developed nations since the 1970s. The strategies designed to stimulate growth often exacerbate inflation, and conversely, measures to combat inflation can hinder growth.

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