Question : Which of the following terms best describes a scenario in which an economy faces both inflation and a decline in real output at the same time?
Option 1: Recession
Option 2: Reflation
Option 3: Deflation
Option 4: Stagflation
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Correct Answer: Stagflation
Solution : The correct answer is Stagflation .
A situation known as stagflation occurs when an economy experiences high unemployment, low growth, and high inflation all at once. In the most recent quarter for which data is available, the second quarter that ended in September, economic growth was only 4.5%.
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