Stagflation

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Stagflation is when an economy experiences stagnant growth and high inflation at the same time.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Stagflation. When an economy experiences stagnant growth and high inflation at the same time.

According to Macroeconomics by Mankiw (7th edition),

Stagflation. A situation of falling output and rising prices; combination of stagnation and inflation.
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