The economic situation at the beginning of Ronald Reagan's first term in which unemployment and inflation were both high was referred to as Reaganomics. trickle-down economics. the Strategic Initiative. stagflation.

Stagflation

Explanation:

Stagflation is a combination of "stagnation" and "inflation." These two economic problems referred to the fact that America's economy was not growing and that the value of American currency was dropping. In order to try to fix this stagflation, Reagan is going to implement a new economic policy. This is now known as Reaganomics. Reaganomics is focused on reducing taxes, decreasing government regulation on businesses, and reducing government spending on social programs like welfare and food stamps.

The situation where inflation and unemployment were high was called stagflation.