Fewer jobs and lower wages gave Americans fewer resources and this statement best describes the state of the United states economy of the 1970s. The correct option among all the options that are given in the question is option “c”. United States economy was going through a period of recession during the 1970s.
Which statement best describes the US economy during the late 1940s and 1950s?
The economy wildly fluctuated during the postwar era. The economy was very strong during the postwar era. -best describes the US economy during the late 1940s and 1950s. This answer has been confirmed as correct and helpful.
Which of the following best describes the economy during the 1920s?
It was a wartime economy.
Which statement describes economic conditions in the United States during the 1920s?
review qtr. 3 #3
| Question | Answer |
|---|---|
| a major reason for the depressed economic conditions of farmers in the1920’s was | over production of agricultural goods |
| which statement best describes conditions in the 1920’s in the United States | an increase in the availability of credit resulted in an expansion of consumer purchasing power |
Which is a true statement about the US economy during the 1970s?
Explanation: The correct answer to this question is option c. inflation and unemployment both were high during 1970s. The 1970s were a time of both high inflation and high unemployment in the U.S. because of two huge oil supply stuns.
How did the economic effects of the war help bring an end to the fighting?
How did the economic effects of the war help bring an end to the fighting? Congress passed the War Revenue Act of 1917 and the government borrowed money to pay for the war. What happened to the profits of many major corporations during the war? The profits of many major industrial corporations skyrocketed.
What happened to the US economy during the 1920s?
The 1920s is the decade when America’s economy grew 42%. Mass production spread new consumer goods into every household. The modern auto and airline industries were born. The U.S. victory in World War I gave the country its first experience of being a global power.
Which statement describes the way wealth was distributed during the 1920s?
Which statement describes the way wealth was distributed during the 1920s? The richest people got much richer while working wages rose only slightly.
What made the roaring 20s so roaring?
The Roaring Twenties was a decade of economic growth and widespread prosperity, driven by recovery from wartime devastation and deferred spending, a boom in construction, and the rapid growth of consumer goods such as automobiles and electricity in North America and Europe and a few other developed countries such as …
Which statement best describes the US in the 1920s?
The statement that best describes the United States in the 1920s is it was a time of cultural changes.
What economic conditions or problems led to a stagnant economy during the 1970s?
Unemployment created jobless Americans with less money to spend; therefore, prices would stay the same or fall. Surprisingly, the United States experienced high unemployment and high inflation simultaneously in the 1970s — a phenomenon called stagflation.
What added to severe US economic problems in 1971?
The oil crisis of 1971 added to severe U.S. economic problems.
Which statement best describes US economy during the late 1940s and 1950s?
Which statement best summarizes how President Reagan’s economic?
The statement that best summarizes how Reagan’s economic policies affected the U.S. economy is: There was overall prosperity, but federal spending and the national debt also increased.
How did the economic effects of the war help bring an end to the fighting? In turn, the federal government used those products in the war effort. In this way the war created enormous profits for stockholders of industries such as chemicals, oil, and steel.
Which word’s best describes the economy of the 1950’s?
Historians use the word “boom” to describe a lot of things about the 1950s: the booming economy, the booming suburbs and most of all the so-called “baby boom.” This boom began in 1946, when a record number of babies–3.4 million–were born in the United States. About 4 million babies were born each year during the 1950s.
Which statement describes the way wealth was distributed during the 1920s? The richest people got much richer while working wages rose only slightly. What role did U.S. banks play in causing the Great Depression? They made many large loans to speculators.
What was the economy like in the 1970’s?
This was due to: Rising wages, partly due to strength of unions. The inflationary budget of 1972. Growth in credit and consumer spending. Oil price shock of 1973, leading to 70% increase in oil prices. Belatedly, the government tried to deal with unemployment, through higher interest rates. Also, the Heath government tried capping wages.
Which is statement best describes the Texas economy in the 1970s?
Which statement best describes the texas economy in the 1970s? Texas experienced a boom as Which statement best describes the texas economy in the 1970s? why would oil drillers call the Hughes rock bit the rock eater? what was the main issue in the tidelands controversy? Did I answer correctly?
What was the housing market like in the 1970s?
The 1970s was a period of rapid house price growth, especially in the early 1970s. During the 1970s, home ownership rates increased from 51%, 1970 to 57% in 1981.
What was the inflation rate in the 1970’s?
Inflation was in the low single digits, but there was a price to pay in higher inflation after all the election year champagne was guzzled. 5 In the winters of 1972 and 1973, Burns began to worry about inflation. In 1973, inflation more than doubled to 8.8%. Later in the decade, it would go to 12%.
