In the 1970s and Early 1980s,the U.S.economy Experienced

question 12

Multiple Choice

In the 1970s and early 1980s,the U.S.economy experienced

• A) stagflation.
• B) low inflation and low unemployment.
• C) high inflation and low unemployment.
• D) high inflation and high unemployment.
• E) a and d

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Definitions:

Profits

The financial gain achieved when the revenue generated from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

GDP

Gross Domestic Product, the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period, acting as a broad indicator of economic activity.

Sales Opportunity

A potential revenue-generating event, or lead, that has been identified as having a significant probability of becoming an actual sale.

Recession

A significant decline in economic activity across the economy, lasting longer than a few months.