What is stagflation a combination of?
Stagflation is a combination of the words stagnation and inflation. It describes an economic condition characterized by slow growth and high unemployment (economic stagnation) mixed with rising prices (inflation).
What is a stagflation meaning?
Stagflation is characterized by slow economic growth and relatively high unemployment—or economic stagnation—which is at the same time accompanied by rising prices (i.e. inflation). Stagflation can be alternatively defined as a period of inflation combined with a decline in the gross domestic product (GDP).
What does stagflation refer to quizlet?
stagflation. A period of slow economic growth and high unemployment (stagnation) while prices rise (inflation)
What is stagflation in economics Upsc?
Stagflation is a situation in which the inflation rate is high, the economic growth rate slows and unemployment remains steadily high.
What is the stagflation Mcq?
Stagflation is a situation of persistent rise in inflation along with dip in growth and increase in unemployment. Disinflation is a fall in the inflation rate.
Who defined stagflation?
The stagflation definition was first hinted at in the 1960s by British politician Iain Macleod when describing the economy as a ‘stagnation situation’. However, stagflation is most associated with the 1970s recession, when the U.S. experienced five quarters of negative GDP growth after the oil crisis.
What was the result of stagflation quizlet?
High inflation rate, slow economy. Prices increase and people have less money to spend.
What was the result of stagflation Apush?
When the government reduced spending and the money supply, inflation fell but unemployment rose to nearly 9%. When the government pumped money into the economy, unemployment fell but inflation rose to nearly 17%.
What is a stagflation Mcq?
What is deflation Upsc?
Deflation refers to fall of prices. It may seem like a good thing, but in reality no economy wants deflation. Deflation usually accompanies economic slowdowns, lower productivity and loss of jobs. Inflation decreases the value of money, deflation increases its value.
Which of the following is the reason for stagflation of in 1970?
Rising oil prices should have contributed to economic growth. In reality, the 1970s was an era of rising prices and rising unemployment; the periods of poor economic growth could all be explained as the result of the cost-push inflation of high oil prices. 23 This was not inline with Keynesian economic theory.