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On Two Occasions in the 1970s

Question 38

Multiple Choice

On two occasions in the 1970s:


A) world oil prices rose rapidly,inflation was high,and the unemployment rate rose to some extent.
B) world oil prices rose rapidly,inflation was moderate,and the unemployment rate was high.
C) world oil prices rose rapidly,inflation was high,and the unemployment rate rose to very high levels on both occasions.
D) oil prices rose rapidly,but the Bank of Canada used monetary policy to largely avoid inflation.

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