Question

The 1970s saw significant negative impacts on the US economy. Analyze one cause and two examples of this economic downturn.

Answer 1

The 1970s saw some of the highest rates of inflation in the United States in recent history, with interest rates rising in turn to nearly 20%. One negative impact on the US economy was unemployment. Between 1968 and 1978, unemployment rose by 33%. This led to rising unemployment that eventually impacted hundreds.