An inflation that co-exists with high rate of unemployment is
ECONOMICS
JAMB 2014
An inflation that co-exists with high rate of unemployment is
- A. hyperinflation
- B. stagflation
- C. demand-pull inflation
- D. cost-push inflation
Correct Answer: B. stagflation
Explanation
Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation. It can also be defined as inflation and a decline in gross domestic product (GDP).
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