The period 1974-1975 is somewhat unique in U.S.economic history due to the fact that:
A)The output was growing rapidly and the inflation rate was falling
B)Both the output and the inflation rate were falling
C)Output was falling yet the inflation rate rose dramatically
D)Output and the inflation rate were both rising

Question

Quizplus · Accepted Answer

During 1974-1975, the U.S. experienced stagflation, where economic output fell while inflation rates rose, a rare combination in economic history.

The Period 1974-1975 Is Somewhat Unique in U