Question

The decade of the 1970s was marked by all of the following economic conditions in the US EXCEPT *

A) High inflation
B) Stagflation
C) Economic recession
D) Economic growth

Answer 1

The 1970s in the U.S. were characterized by high inflation, stagflation, and economic recession, not by consistent economic growth.

Step-by-step explanation:

The decade of the 1970s in the U.S. was marked by several distinct economic conditions. Among the listed options, high inflation, stagflation, and economic recession were indeed characteristics of the 1970s economy. However, the option of consistent economic growth does not accurately represent the economic conditions of that time.

During the 1970s, the U.S. experienced high inflation, with prices increasing by more than 10 percent a year. The country also dealt with stagflation, a term that describes the unusual occurrence of high unemployment alongside high inflation, defying the traditional economic belief that these two factors typically move in opposite directions. The 1970s included a deep recession from 1973 to 1975, as well as a smaller recession towards the end of the decade, further contradicting the notion of economic growth during this period.