Which of the Following Is an Accurate Description of the U.S.inflation

question 76

Multiple Choice

Which of the following is an accurate description of the U.S.inflation rate since 1950?

• A) The rate has always been below 4 percent.
• B) Inflation was low in the 1970s.
• C) Episodes of high inflation occurred in the 1970s and early 1980s.
• D) Inflation rates were very high in the 1960s.
• E) Episodes of high inflation occurred in the 1990s.

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Definitions:

Tax Rate

The amount of tax people are required to pay per unit of whatever is being taxed.

Excise Tax

A tax levied on specific goods, services, or transactions, such as tobacco, alcohol, and fuel, usually to discourage consumption or raise government revenue.

Supply Curve

A graphical representation of the supply schedule, showing the relationship between quantity supplied and price.

Demand Curve

A graphical representation of the demand schedule, showing the relationship between quantity demanded and price.