Stagflation in the United States in the 1970s represented an economic anomaly in which consumer demand stagnated. Low global real interest rates and rapid development of the syndicated loan market have increased EMDE debt, especially in Latin America and many low-income countries.
The stagnation of the 1970s combined high inflation with disappointingly uneven economic growth. Large budget deficits, low interest rates, oil embargoes, and the collapse of a controlled exchange rate are among the main causes of stagflation.
Slow economic growth and relatively high unemployment rate. Inflation is severe. This inflation is said to be caused by the oil supply shock and the accompanying rise in gasoline prices.
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