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A situation under which a low rate of growth combines with the rise in general price level is known as :
- a)Inflation
- b)Deflation
- c)Stagflation
- d)Demand-pull inflation
Correct answer is option 'C'. Can you explain this answer?
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A situation under which a low rate of growth combines with the rise in...
Stagflation refers to economic condition where economic growth is very slow or stagnant and prices are rising. The term stagflation was coined by British politician Iain Macleod, who used the phrase in his speech to parliament in 1965, when he said: “We now have the worst of both worlds - not just inflation on the one side or stagnation on the other. We have a sort of ‘stagflation’ situation.” The side effects of stagflation are increase in unemployment- accompanied by a rise in prices, or inflation. Stagflation occurs when the economy isn't growing but prices are going up. At international level, this happened during mid 1970s, when world oil prices rose dramatically, fuelling sharp inflation in developed countries.
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A situation under which a low rate of growth combines with the rise in...
Stagflation is a combination of stagnant economic growth, high unemployment, and high inflation. It's an unnatural situation because inflation is not supposed to occur in a weak economy. Consumer demand drops enough to keep prices from rising. Slow growth in a normal market economy prevents inflation and it mainly occurs when the government or central banks expand the money supply at the same time they constrain supply.
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A situation under which a low rate of growth combines with the rise in general price level is known as :a)Inflationb)Deflationc)Stagflationd)Demand-pull inflationCorrect answer is option 'C'. Can you explain this answer?
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