Stagflation" refers to
A. a simultaneous increase in output and the price level.
B. a simultaneous reduction in output and the price level.
C. an increase in the price level accompanied by decreases or leveling off in real output and employment.
D. a decline in the price level accompanied by increases in real output and employment.
C. an increase in the price level accompanied by decreases or leveling off in real output and employment.
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Indicate whether the statement is true or false
Monetarists take the policy position that the supply of money should be
A. increased at a constant rate each year. B. decreased during recession and increased during inflation. C. held constant over time. D. increased during recession and decreased during inflation.