Explain the concept of stagflation.

Stagflation is an economic phenomenon characterized by a combination of stagnant economic growth, high unemployment, and rising prices, particularly inflation. This condition is paradoxical because it contradicts the typical relationship between inflation and unemployment, as described by the Phillips Curve, a widely accepted concept in macroeconomics. Stagflation challenges the conventional wisdom that inflation and unemployment have _______ ______ _______ ____ _________ ________ _______ _________ ________ _____ _____.
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