An Economic Condition Characterized by High Unemployment and Excessive Inflation

question 185

Multiple Choice

An economic condition characterized by high unemployment and excessive inflation is called

• A) stagflation.
• B) recessionary downturn.
• C) expansionary growth.
• D) depression.

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Definitions:

Self-knowledge

One's understanding and awareness of their own personality, feelings, motives, and desires.

Introspection Theory

A psychological theory which suggests that the examination of one's own conscious thoughts and feelings can provide insight into one's behaviors and mental states.

Self-fulfilling Prophecy

A self-fulfilling prophecy is a prediction that directly or indirectly causes itself to become true, due to positive feedback between belief and behavior.

Cognitive Dissonance

An uncomfortable inconsistency among one’s actions, beliefs, attitudes, or feelings. People attempt to reduce it by making their actions, beliefs, attitudes or feelings more consistent with one another.