What Was a Major Cause of Inflation in the 1970s

question 81

Multiple Choice

What was a major cause of inflation in the 1970s?

• A) Deregulation of the airline and trucking industries
• B) Increased industrial productivity
• C) Tight credit policies
• D) OPEC price increases

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Definitions:

Materials

The raw goods and components used in the manufacturing or production process to create final products.

Spending Variance

The difference between the actual amount spent and the budgeted amount for a specific period.

Medical Supplies

Items and equipment used in medical care, often consumable, disposable, or for patient management and diagnosis.

Flexible Budget

A budget that adjusts or flexes for changes in the volume of activity, allowing for more accurate forecasting and planning.