Which of the following statements is/are correct about Stagflation? 1. Stagflation is a situation in an economy when inflation and unemployment both are at higher levels, contrary to conventional belief. 2. Stagflation is basically a combination of high inflation and low growth. 3. Stagflation excludes the inflation of items such as vegetables whose prices are too volatile. Select the correct answer using the codes given below: - Study24x7
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UPSC & State PSC
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Which of the following statements is/are correct about Stagflation? 1. Stagflation is a situation in an economy when inflation and unemployment both are at higher levels, contrary to conventional belief. 2. Stagflation is basically a combination of high inflation and low growth. ...

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A

1 and 2 only

B

2 and 3 only

C

1 and 3 only

D

1, 2 and 3

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