Answer Happy

Stagflation refers to a period in the 1970's where O both inflation and the unemployment rate were high, while economic growth stagnated, which was contrary to the Keynesian theories at that time. O both inflation and the unemployment rate were high, while economic growth stagnated, which was contrary to the classical theories at that time. O the unemployment rate was high, while both economic growth and inflation stagnated, which was contrary to the Keynesian theories at that time. O both inflation and the economic growth were high, while employment stagnated, which was contrary to the classical theories at that time.