Question 1
Since 1970, the U.S. economy has experienced five
◦ periods of high inflation.
◦ recessions.
◦ deflations.
◦ periods of stagflation.
Question 2
Since 1970, the U.S. economy has experienced two
◦ periods of high inflation.
◦ recessions.
◦ deflations.
◦ All of these.