During the 1970s in the U.S.________.
A)the inflation rate peaked at over 14%
B)oil prices quadrupled
C)the unemployment rate rose above 8%
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

During the 1970s, the U.S. experienced high inflation with the rate peaking at over 14%. This was largely due to factors such as increased government spending, rising energy costs, and increased demand for goods and services. Additionally, oil prices quadrupled due to the OPEC oil embargo in 1973, leading to a period of stagflation, where both inflation and unemployment rose. The unemployment rate also rose above 8% during this time period, as a result of the economic challenges faced by the country. Therefore, all of the given options are true for the 1970s in the U.S.