Answer to Question #179285 in History for will

Question

explain stagflation

Answer 1

Stagflation

 Stagflation refers to an economic situation which is characterized with slow economic growth that is also associated with increased unemployment cases. Stagflation usually comes along with general increase in prices of commodities and services in an economy and a decline in gross domestic production. The first stagflation situation was experienced in the globe  in 1970’s during the oil shock that was brought about the Yong-Kippur war and he gulf war that resulted into general inflation in the then developed economies .