Question

Which is a true statement about the US economy during the 1970s?
Prices for goods and services stayed the same, but a dollar bought less than it previously had.
Many Americans were employed, and their wages increased dramatically.
Many people made less money, but a dollar bought more than it previously had.
Prices for goods and services increased, and a dollar bought less than it previously had.

Answer 1

"Prices for goods and services increased, and a dollar bought less than it previously had."

Explanation: the 1970s were marked by high inflation (stagflation) driven by oil shocks and other factors, which raised prices and reduced the purchasing power of the dollar.