In the 1970s and first half of the 1980s, the U.S. economy had _____ inflation and _____ unemployment.
A) high; high
B) high; low
C) low; high
D) low; low

Question

Quizplus · Accepted Answer

During the 1970s and early 1980s, the U.S. experienced a period of stagflation, characterized by high inflation and high unemployment, particularly due to oil price shocks and monetary policy responses.

In the 1970s and First Half of the 1980s, the U.S