The high rate of inflation in the United States in the late 1970s and early 1980s was due to high inflation taxes.

Question

Quizplus · Accepted Answer

The high rate of inflation in the United States in the late 1970s and early 1980s was primarily due to a combination of factors, including oil price shocks, wage-price spirals, and expansionary fiscal and monetary policies. While inflation taxes may have played a role in exacerbating inflation in some instances, they were not the main driver of inflation during this time period.

The High Rate of Inflation in the United States in the Late