Asked by Kayla Lippoldt on Jun 29, 2024
Verified
In the history of the U.S.economy,which economic era saw both high unemployment and high inflation at the same time?
A) After the Great Depression to the early 1970s
B) Since the early 1980s
C) The colonial period
D) Before and during the Great Depression
E) From the early 1970s to the early 1980s
High Unemployment
A situation in an economy where the unemployment rate is significantly higher than the historical average.
High Inflation
High inflation is a condition where the general price level of goods and services in an economy rises rapidly over a period, eroding purchasing power.
U.S. Economy
The economic system of the United States characterized by a mixed economy with both private and public enterprises contributing to the gross domestic product (GDP).
- Recognize key historical economic challenges and their impacts on the economy, including periods of stagflation and significant financial crises.
Verified Answer
Learning Objectives
- Recognize key historical economic challenges and their impacts on the economy, including periods of stagflation and significant financial crises.
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