Question

The "stagflation crisis" during the 1970s in the U.S. referred to a combination of:

Answer 1

Answer:

B.high unemployment and high inflation at the same time

Explanation:

Stagflation can be defined as a situation characterised by high unemployment and inflation rate simultaneously. This is when an economy is experiencing high inflation rate and high unemployment rate at the same time.

Inflation can be defined as the persistent increase in the general price level of goods and services in a country.

Unemployment can be defined as a situation in which a person who is willing and capable cannot not find a suitable job. Unemployed people refers to the portion of a country's labor force who does not have a job.

Stagflation is characterised by low economic growth, high unemployment rate, high inflation rate.