Which of the following statements about the American economy in the 1970s is accurate?
A) As productivity lagged, workers expected wage reductions.
B) Productivity increased as the expectations of workers concerning wages increased.
C) Major increases in productivity were accompanied by a decrease in workers' expectations concerning wages.
D) Although productivity declined, workers' wages usually did not.

Question

Quizplus · Accepted Answer

In the 1970s, the American economy experienced a period of stagnation characterized by low productivity growth but wages for workers did not decrease in tandem. This period was marked by inflation and economic challenges, but workers' wages generally did not fall despite the productivity issues.

Which of the Following Statements About the American Economy in the 1970s