Which of the following experiences in the Australian economy led to an increase in the unemployment rate and the inflation rate?
A)The world oil shock of 1974.
B)The policy of high interest rates in the late 1980s.
C)The introduction of the Goods and Services Tax (GST)in 2000.
D)The introduction of unemployment benefit payments in 1944.

Question

Quizplus · Accepted Answer

The world oil shock of 1974 led to stagflation, a situation where both inflation and unemployment rates increased, affecting many economies including Australia.

Which of the Following Experiences in the Australian Economy Led