In the 1980s,the federal government gradually ________ interest-rate ceiling on deposits at commercial banks and thrift institutions,which has ________ the costs of inflation.

Question

Quizplus · Accepted Answer

The word "gradually" implies a process of removal, so A and B can be eliminated as they suggest imposition rather than removal. The phrase "lowered the costs of inflation" suggests that interest rates were lowered, which is consistent with the idea of lifting the interest-rate ceiling. Therefore, the best choice is C - lifted, lowered.

In the 1980s,the Federal Government Gradually ________ Interest-Rate Ceiling on Deposits