In the wake of skyrocketing oil prices, the United States experienced __________________.

Question

Quizplus · Accepted Answer

The statement mentions "skyrocketing oil prices" which suggests a period of inflation. Option A states that there was rising unemployment accompanied by serious inflation, which aligns with the situation described in the statement. Option B states that there was stable employment but soaring inflation, which contradicts the rising unemployment mentioned in the statement. Option C states that there was stability in the cost of living but near-depression levels of unemployment, which also contradicts the rising unemployment mentioned in the statement. Option D states that there was a reduction in unemployment accompanied by double-digit inflation, which does not align with the situation described in the statement.

In the Wake of Skyrocketing Oil Prices, the United States