How did inflation in the 1970s contribute to Washington’s boom-and-bust cycles?
(1 point)
Responses
It decreased unemployment in key industries.
It decreased unemployment in key industries.
It drove up the cost of consumer goods.
It drove up the cost of consumer goods.
It increased wages for workers.
It increased wages for workers.
It spurred production in agriculture.
It spurred production in agriculture.
1 answer
It caused instability in financial markets and led to periods of economic expansion followed by recession.