From 1960 Until 2012,the Long-Run Average Rate of Inflation in the United

question 75

Multiple Choice

From 1960 until 2012,the long-run average rate of inflation in the United States was

• A) less than 1 percent.
• B) about 4 percent.
• C) about 8 percent.
• D) about 12 percent.
• E) negative.

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Definitions:

Nation's Top Corporations

The leading companies in a country, typically measured by revenue, profitability, or market capitalization.

Closed-Shop

A workplace where employment is conditional upon the employee's membership in a labor union, typically found in industries with strong union representation.

National War Labor Board

A government agency established in World War I and again during World War II to mediate labor disputes and avoid strikes that would disrupt wartime production.

Office of Price Administration

A United States government agency established during World War II to control prices and prevent wartime inflation.