In the United States Before 1970

Multiple Choice

In the United States before 1970,

A) most macroeconomic instability was caused by simultaneous shifts of aggregate demand and aggregate supply
B) most macroeconomic instability was caused by shifts of aggregate supply
C) most macroeconomic instability was caused by shifts of aggregate demand
D) the government assumed no direct responsibility for the level of employment
E) the government itself was a much less important player in the macroeconomy than it is today