Answers TN-US History Reagan and the 1980sQuestion 6

6

QuizMultiple Choice

Reagan and the 1980s

Question 6 • TN-US History

Which of the following was true of the US economy in the 1970s?

Answer

A

Prices for goods and services stayed the same, but the dollar bought less than it previously had.

B

Many Americans were employed, and their wages increased dramatically over previous years.

C

Many people made less money, but the dollar bought more goods and services than it previously had.

D

Prices for goods and services were increasing, and the dollar bought less than it previously had.

Explanation

During the 1970s, the United States experienced high inflation: prices for goods and services rose. As prices increased, each dollar could buy less than before, so choice D is true.

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