The Inflation and Unemployment Data for the 1970s Suggest That

question 118

Multiple Choice

The inflation and unemployment data for the 1970s suggest that the aggregate-supply shocks of that period caused the:

• A) Relationship between the unemployment rate and the rate of inflation to remain stable, predictable, and exhibited a clear tradeoff
• B) Relationship between the unemployment rate and the rate of inflation to be similar to that found during the 1960 and 1969 period
• C) Phillips Curve to shift to the right
• D) Phillips Curve to shift to the left

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Definitions:

Colonization

The process by which a country takes control over foreign lands, territories, or peoples to exploit them economically, often accompanied by settlement and economic domination.

Free Blacks

African Americans who were not enslaved and had either gained freedom through manumission, legal emancipation, or were born to free black parents.

Slaveholders

Individuals or entities that own slaves, typically in the context of historical periods where slavery was legally recognized.

Sojourner Truth

A former slave who became an abolitionist and women's rights activist in the 19th century, known for her speech "Ain't I a Woman?"