Inflation and Stagflation Answers

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Look carefully at this photograph from 1973. The situation illustrated by the sign in this photo was a direct result of an action taken by:

“baby boomers.”

OPEC.

President Nixon.

President Reagan.

Which of these economic concerns was related to the achievements described in the passage?

“Baby boomers” did not want the jobs that had been created by government.

Reagan “froze” wages and prices to accomplish this economic recovery.

Inflation and unemployment rates declined, but stagflation did not.

The nation’s deficit rose greatly as inflation and unemployment fell.

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