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When the economy experiences stagflation, the economy experiences a price level that is _____ than the equilibrium price level and the unemployment rate is _____
When the economy experiences stagflation, the economy experiences a price level that is _____ than the equilibrium price level and the unemployment rate is _____ than full employment.
a.
lower; lower.
b.
higher; higher
c.
higher; lower
d.
lower; higher
please explain and provide correct answer otherwise downvote
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