Question

Which of the following statements concerning the history of U.S. inflation is not correct?

a)Prices rose at naveraget of t cnt ovre te la yeans
b)There was about a 17-fold increase in the price level over the last 80 years.
c)Inflation in the 1970s was below the average over the last 80 years.
d)The United States has experienced periods of deflation

Answer 1

The correct statement concerning the history of U.S. inflation is that inflation in the 1970s was above the average over the last 80 years.

Step-by-step explanation:

The correct statement concerning the history of U.S. inflation is (c) Inflation in the 1970s was below the average over the last 80 years. This statement is not correct because inflation in the 1970s was actually above the average over the last 80 years.

According to historical data, the U.S. experienced high inflation in the 1970s, which was one of the periods of highest inflation in the twentieth century.

Deflation means a decrease in the general price level or negative inflation. In the U.S., there were periods of deflation in the first half of the twentieth century and even in 2009 during the global financial crisis.