The Economy in the 1970s Answers

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Which of the following is the best definition for the word stagflation?

An economic condition of high growth and high inflation

An economic condition of high growth and low inflation

An economic condition of slow growth and high inflation

An economic condition of slow growth and low inflation

How did rising interest rates affect Americans?

It became cheaper to buy cars and homes.

Americans had to pay higher interest on loans.

Loan payments dropped greatly over time.

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