Question
What economic condition is characterized by simultaneous
slow economic growth, rising prices, and increasing unemployment?Solution
Stagflation is a condition in which slow economic growth (stagnation), rising prices (inflation), and rising unemployment all happen at the same time. Although it is rare for slow economic growth and high inflation to coexist, it has happened in the past, and many believe it could happen again.
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Identify the element that doesn't belong to the hardware category:
Relevant for Exams:
