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Context for Postwar Transformation
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AP U.S. History
APUSH.249 Context for Postwar Transformation
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Use the accompanying chart of inflation, unemployment, and oil-price shocks in the 1970s. Which context best explains the challenge this posed to postwar liberal economics?
A
The chart proves that the postwar boom accelerated without interruption through 1980.
B
High inflation and unemployment occurring together undermined confidence in policies built for earlier growth conditions.
C
The chart shows that oil prices had limited relationship to the broader economy.
D
The chart demonstrates that unemployment and inflation had both disappeared by 1974.
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