Stagflation in the 1970s is most associated with:

Stagflation is said to occur when the economy experiences high inflation, high unemployment and slow growth. Stagflation in the 1970s was caused by the fall of the Bretton Woods system and the 1973 oil crisis. The prices of oil increased as a result of an oil embargo started by the Organization of Arab Petroleum Exporting Countries. This eventually had long run effects on the global economy.