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  a period of slow economic growth and high unemployment (stagnation) while prices rise (inflation)
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The term was coined in the 1970s when most economists were surprised the U.S. economy suffered stagflation. Prior to that period, there was an expectation that unemployment could be decreased at the cost of increased inflation and vice versa.
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Associated words [difficulty]:   stagflation
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Most commonly used in these subjects:   Public Policy & Politics, Business, Personal Finance
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