Which of the Following Contributed to High Levels of Inflation

question 80

Multiple Choice

Which of the following contributed to high levels of inflation in the 1970s?
i.oil price shocks
ii.lower taxes
iii.a productivity slowdown

• A)i only
• B)ii only
• C)iii only
• D)i and iii
• E)ii and iii

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Definitions:

National Industrial Recovery Act

A law passed in 1933 as part of the U.S. New Deal to stimulate economic recovery, establish fair competition, and reduce unemployment.

Unconstitutional

An action or legislative act that is deemed to be in violation of the constitution of a country.

Labor Unions

Organizations formed by workers to protect their rights and interests through collective bargaining with employers.

Wagner Act

A foundational piece of labor legislation in the United States, officially known as the National Labor Relations Act of 1935, that established the rights of workers to form unions and engage in collective bargaining.