The inflation of the early 1970s was caused in part by
A) President Johnson's decision to wage an expensive war in Vietnam while also increasing spending on Great Society programs.
B) President Nixon's decision to devalue the dollar by allowing it to "float" in international money markets.
C) the large increases in federal spending that President Nixon requested and received at the start of his term.
D) the growing concentration of economic power and wealth in a small number of dominant corporations.

Question

Quizplus · Accepted Answer

The inflation of the early 1970s was partly due to President Johnson's simultaneous funding of the Vietnam War and Great Society programs, which increased government spending and contributed to inflationary pressures.

The Inflation of the Early 1970s Was Caused in Part