| Stagflation |
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Slowing growth in the economy (also known as stagnation) accompanied
by a general rise in prices.
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The
economy isn't growing but prices are, not a good situation for a country
to be in. This occurred to a great extent in the 1970's when oil prices
skyrocketed and the economy was slowing, therefore the effects of
inflation were only exacerbated. |
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Dictionary
