Asked by Matthew Mazique on Jul 11, 2024
Verified
Which of the following statements is true?
A) There was a great deal of stagflation in the 1930s.
B) The inflation rate fell during the Eisenhower Administration,but rose during the Reagan years.
C) Output in the United States fell by about one-third between 1929 and 1933.
D) The Medicare and Medicaid programs were inaugurated during the New Deal.
Stagflation
An economic condition characterized by slow economic growth, high unemployment, and high inflation.
Eisenhower Administration
The executive leadership period in the United States under President Dwight D. Eisenhower, from 1953 to 1961, noted for moderate domestic policies and significant infrastructure projects.
Reagan Years
The period during which Ronald Reagan served as President of the United States, from 1981 to 1989, noted for economic policies that emphasized tax cuts, deregulation, and controlled government spending.
- Identify principal movements and significant shifts in the economic backdrop of the United States, inclusive of inflation, recessions, and expansion periods.
Verified Answer
AC
Akilah ClarkeJul 11, 2024
Final Answer :
C
Explanation :
Output in the United States fell by about one-third between 1929 and 1933. This refers to the Great Depression, which was a period of severe economic contraction in the United States.
None of the other statements are true. Stagflation (a combination of high inflation and slow economic growth) was not a significant problem in the 1930s (A). The inflation rate did fall during the Eisenhower Administration, but it also fell during the Reagan years, so this statement is incomplete and misleading (B). Medicare and Medicaid were not inaugurated during the New Deal, but rather during the Great Society programs of the 1960s (D).
None of the other statements are true. Stagflation (a combination of high inflation and slow economic growth) was not a significant problem in the 1930s (A). The inflation rate did fall during the Eisenhower Administration, but it also fell during the Reagan years, so this statement is incomplete and misleading (B). Medicare and Medicaid were not inaugurated during the New Deal, but rather during the Great Society programs of the 1960s (D).
Learning Objectives
- Identify principal movements and significant shifts in the economic backdrop of the United States, inclusive of inflation, recessions, and expansion periods.