The Term "Stagflation" Refers to the Situation When

question 365

Multiple Choice

The term "stagflation" refers to the situation when

• A) the aggregate supply curve shifts leftward, prices increase and real GDP decreases.
• B) real GDP and the price level both rise because of an increase in aggregate demand.
• C) prices become stagnant and do not increase or decrease.
• D) the short-run aggregate supply curve and the aggregate demand curve shift in opposite directions.

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Definitions:

Civil War

In United States history, refers to the conflict between the Northern states (Union) and the Southern secessionist states (Confederacy) from 1861 to 1865, primarily over the issues of states' rights and slavery.

Haitian Revolution

A successful anti-slavery and anti-colonial insurrection between 1791 and 1804, leading to the establishment of Haiti as a sovereign nation.

Toussaint Louverture

A leader of the Haitian Revolution, who played a key role in the country’s fight for independence from France, becoming a symbol of the struggle against slavery.

Quasi War

An undeclared naval conflict between the United States and France from 1798 to 1800, arising from disputes over treaties and naval harassment.