Stagflation Is the Simultaneous Occurrence of Substantial Unemployment and Inflation

question 38

True/False

Stagflation is the simultaneous occurrence of substantial unemployment and inflation.
In the 1970s the U.S.economy experienced stagflation,in which the price level increased while the economy entered recession.

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Definitions:

Two-Factor Theory

A psychological theory proposing that employee satisfaction and dissatisfaction are influenced by two independent sets of factors: hygiene and motivators.

Satisfier Factor

An aspect of work that can cause satisfaction if present, based on Herzberg's two-factor theory of motivation.

ERG Theory

A motivation theory developed by Clayton Alderfer that categorizes human needs into three groups: Existence, Relatedness, and Growth.

Physiological Well-Being

A state of physical health and functioning that allows an individual to perform daily activities without limitations or distress.