Question

what term do economists use to describe a downturn in the economy that is characterized by both rising unemployment and rising prices

Answer 1

Economists use the term stagflation to describe a downturn in the economy that is characterized by both rising unemployment and rising prices.

Step-by-step explanation:

The term economists use to describe a downturn in the economy that is characterized by both rising unemployment and rising prices is stagflation. Stagflation is an unhealthy combination of high unemployment and high inflation. It was observed in the U.S. economy during the deep recession from 1973 to 1975, and again in back-to-back recessions from 1980 to 1982.