The Word Stagflation Describes a Situation in Which

Multiple Choice

The word stagflation describes a situation in which:

A) a higher price level occurs simultaneously with higher employment.
B) a lower price level occurs simultaneously with economic growth.
C) a higher price level occurs simultaneously with lower aggregate output.
D) a lower price level occurs simultaneously with federal budget deficits.
E) a higher price level occurs simultaneously with federal budget surpluses.