The Great Stagflation of the 1970s was very similar to that of the Great Depression of the 1930s except that inflation decelerated in the 1970s and increased during the 1930s.

Question

Quizplus · Accepted Answer

The statement is incorrect. Inflation decelerated in the 1930s during the Great Depression, while in the 1970s, inflation increased along with a stagnant economy, which was known as the Stagflation.

The Great Stagflation of the 1970s Was Very Similar to That