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.
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