Incomes of U.S.households in the 1970s and 1980s
A)grew rapidly,due to the widespread success of labor unions in pushing up wages during those decades.
B)grew rapidly,due to several increases in the minimum wage during those decades.
C)grew rapidly,due to government policies that discouraged the importation of foreign products during those decades.
D)grew slowly,due to slow growth of the output of goods and services per hour of U.S.workers' time during those decades.

Question

Quizplus · Accepted Answer

The correct choice is D. Incomes of U.S. households in the 1970s and 1980s grew slowly due to the slow growth of the output of goods and services per hour of U.S. workers' time during those decades. This period is known as the "stagflation" era, characterized by a combination of slow economic growth and high inflation, which made it difficult for workers to achieve significant wage gains.