Which of the following was true of the United States before 1970?
A)The government was not responsible for promoting employment,output,and purchasing power.
B)Most macroeconomic instability was caused by changes in international oil prices.
C)Most macroeconomic instability was caused by shifts of aggregate demand.
D)Most macroeconomic instability was caused by the depreciation of the dollar.
E)The government was responsible for using monetary policy to correct a depression.

Question

Quizplus · Accepted Answer

Before 1970, macroeconomic instability in the United States was primarily attributed to shifts in aggregate demand, as the economy was influenced by factors such as consumer spending, investment, and government expenditure.

Which of the Following Was True of the United States