ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Stagflation is an economic event in which the inflation rate is high, economic growth rate slows, and unemployment remains steadily high.

Detailed explanation-2: -In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high.

Detailed explanation-3: -The term ‘stagflation’ is used in economics to describe a situation where an inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high.

Detailed explanation-4: -Stagflation is an economic cycle characterized by slow growth and a high unemployment rate accompanied by inflation. Economic policymakers find this combination particularly difficult to handle, as attempting to correct one of the factors can exacerbate another.

Detailed explanation-5: -Stagflation is the extreme economic situation, a peculiar combination of stagnant growth and rising inflation leading to high unemployment.