The Word Stagflation Describes a Situation in Which a Higher

question 54

Multiple Choice

The word stagflation describes a situation in which a higher price level occurs simultaneously with

• A)higher employment
• B)economic growth
• C)lower aggregate output
• D)federal budget deficits
• E)federal budget surpluses

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Definitions:

Enovid-E 21

A pharmaceutical preparation previously used for contraception.

Ortho-Novum

A brand of oral contraceptive pills used to prevent pregnancy.

Formalin

An aqueous solution of formaldehyde gas; commonly used as a disinfectant or preservative in medical laboratories.