The Economy in the 1970s

Question 1

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

Revolt · Accepted Answer

C: An economic condition of slow growth and high inflation

Question 2

Choose the word that best completes each sentence.When Carter took office, he first tried to increase growth by proposing government spending. Then, Carter tried solve the problem of by reducing the number of business rules. In the end, inflation continued to .

Revolt · Accepted Answer

A: lower; B: higher; C: inflation; D: unemployment; E: rise; F: fall

Question 3

What did the Federal Reserve do to try to reduce inflation?

Revolt · Accepted Answer

B: Allowed interest rates to rise

Question 4

Which of the following best describes President Carter’s goals regarding his energy policy?

Revolt · Accepted Answer

C: Reducing American dependence on foreign energy supplies

Question 5

How did the 1979 oil shock affect the US economy?

Revolt · Accepted Answer

A: It caused inflation to rise and the economy to slow.

Question 6

Which of the following problems were happening in America’s economy?Check all of the boxes that apply.

Revolt · Accepted Answer

A: Rising prices; B: High unemployment; E: Falling wages

Question 7

How did rising interest rates affect Americans?

Revolt · Accepted Answer

B: Americans had to pay higher interest on loans.

The Economy in the 1970s Answers

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