What best describes the transformation of the American economy in the 1970s and 1980s?

Question

Quizplus · Accepted Answer

The transformation of the American economy in the 1970s and 1980s was characterized by relative decline. This includes the rise of global economic competition, the decline of certain industries such as manufacturing, and the increasing dominance of service-based industries. While the overall economy continued to grow, other countries, particularly in Asia and Europe, were experiencing faster growth rates and gaining a larger share of global trade.

What Best Describes the Transformation of the American Economy in the 1970s