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Test Your Knowledge
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Question 1:
What is stagflation?
A. A period of high economic growth, low inflation, and high unemployment
B. An economic condition characterized by slow growth, high unemployment, and high inflation
C. A period of economic prosperity with low unemployment and inflation
Question 2:
What makes stagflation particularly difficult to manage?
A. It combines slow economic growth, high unemployment, and high inflation, which usually do not occur together
B. It is a result of high economic growth and low inflation
C. It is caused by a decrease in oil prices
Question 3:
How does stagflation work?
A. Stagnation leads to high inflation, which increases employment and demand
B. High inflation leads to lower unemployment, creating economic growth
C. Stagnation, high inflation, and high unemployment create a cycle of economic decline
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