The U.S.economy of the 1970s is typically referred to as ________.
A)"The Great Depression"
B)"The Great Inflation"
C)"The Great Moderation"
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

The economy of the 1970s is often referred to as "The Great Inflation" because it experienced a period of rapid inflation, rising prices, and stagnant economic growth. This was due to a combination of factors, including foreign oil price shocks, rising government spending, and loose monetary policy by the Federal Reserve. The Great Depression and The Great Moderation are incorrect because they refer to different periods in U.S. economic history.

The USEconomy of the 1970s Is Typically Referred to as ________