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Economic conditions in which high inflation is combined with the high unemployment, resulting in stagnation of productivity.Terms in this set (12) group of firms that produce similar products or provide similar services. each firm in a perfect competitive market. monopoly granted by the government. result when a single firm can fill the demand for a good more efficiently than if there were multiple firms. large number of independent buys and sellers.Study with Quizlet and memorize flashcards containing terms like three of the five harmful governmental practices discussed in the text, large, complex organization composed of appointed officials and their numerous agencies and departments called, president FDR's plan that was enacted in the midst off the great depression and more.Quizlet has study tools to help you learn anything. 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