Stagflation Is a Period in Which

question 70

Multiple Choice

Stagflation is a period in which

• A)There is high unemployment in the market.
• B)There is a high inflation rate in the market.
• C)high debt
• D)There is high unemployment and high inflation in the market.

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Definitions:

Real GDP Per Person

Gross Domestic Product adjusted for inflation and divided by the total population; a measure of the economic output per resident.

Human Capital

The collective skills, knowledge, expertise, and other attributes embodied in individuals that contribute to their economic productivity.

Physical Capital

The stock of equipment and structures that are used to produce goods and services.

Capital Per Worker

The amount of capital (tools, machinery, and equipment) available per employee, affecting the productivity and efficiency of labor.