Answer:
a general increase in prices and fall in the purchasing value of money.
Explanation:
In the 1970s, OPEC demonstrated that "<span>b. An alliance in control of a valuable resource could exert control over the global economy," since they restricted the production of oil in order increase prices. </span>
Answer:
1 day ago — Working hard on Southam sol. Someone softly spoke "Tailand tot, and toil and tol, And yet I'm always broke -Bewept from "The Land of Hope' by.
1 answer 0 votes: Answer: I am to lazy to readExplanation:so sorry about that but if I was to read I
Explanation:
1. 1970 (having an 11.04% rate of inflation)
2. Increased involvement in the Vietnam War, Great Society programs fully in effect.
"The late 1960's increase in inflation was due to the increase of taxes, increase the issuance of currency and cutting public expenditures, in the Lyndon B Johnson government, in order they could meet the military expenses they where having at that moment thanks to the Vietnam war."
3. Consumers lose purchasing power with inflation forcing them to buy less.
"If there is an increase in inflation but not in salary, the amount of earnings will not be powerful enough overtime, which means American consumers would be needing more money to satisfy their daily requirements."
