Moving from the Late 1960s to 1970-1973

question 16

Multiple Choice

Moving from the late 1960s to 1970-1973,

• A)inflation remained high while the unemployment rate was lower than in the late 1960s.
• B)inflation remained high while the unemployment rate was higher than in the late 1960s.
• C)inflation remained low while the unemployment rate was lower than in the late 1960s.
• D)inflation remained low while the unemployment rate was higher than in the late 1960s.

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Definitions:

Large Numbers of People

A phrase that refers to situations, studies, or phenomena involving a significant population size.

Normative Economic Statement

A statement expressing a value judgment about what ought to be, based on personal values or opinions rather than factual evidence.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by gross domestic product (GDP) growth.

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for employment.