During the 1970s when the U.S. experienced rising inflation and unemployment, economists began to reconsider the significance of aggregate supply as well.

Question

Quizplus · Accepted Answer

This statement is true. The phenomenon of stagflation during the 1970s led economists to reevaluate their understanding of the relationship between inflation and unemployment, and to also consider the role of aggregate supply in shaping the economy.

During the 1970s When the U