A) Jain Macleod
B) Milton Friedman
C) J M Keynes
D) William Phillips
Correct Answer: A
Solution :Stagflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It raises a dilemma for economic policy, since actions designed to lower inflation may exacerbate unemployment, and vice versa. The term is generally attributed to a British Conservative Party politician who became Chancellor of the Exchequer in 1970, lain Macleod, who coined the phrase in his speech to Parliament in 1965.
You need to login to perform this action.
You will be redirected in 3 sec