Most major economic indicators in the United States turned downward in the 1970s, as the long postwar expansion ground to an unmistakable halt. The fig- ures below offer evidence of how developments in the United States compared with other industrialized countries. Economic Malaise in the Seventies 14.0 12.0 10.0 8.0 6.0 4.0 -1 2.0 -3 0.0 U.S. U.K. U.S. U.K. Germany Japan Germany France FIGURE 29.3 FIGURE 29.4 Falling Gross Domestic Product Rising Unemployment 1972 1973 1974 " 1976 LL61 || 1978 - 6261 0261 1972- 1973 1974 1975 1976 1977- 1978- I 1979 1980- 1861 1982- E861 1984 1985

Most major economic indicators in the United States turned downward in the 1970s, as the long postwar expansion ground to an unmistakable halt. The fig- ures below offer evidence of how developments in the United States compared with other industrialized countries. Economic Malaise in the Seventies 14.0 12.0 10.0 8.0 6.0 4.0 -1 2.0 -3 0.0 U.S. U.K. U.S. U.K. Germany Japan Germany France FIGURE 29.3 FIGURE 29.4 Falling Gross Domestic Product Rising Unemployment 1972 1973 1974 " 1976 LL61 || 1978 - 6261 0261 1972- 1973 1974 1975 1976 1977- 1978- I 1979 1980- 1861 1982- E861 1984 1985

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 28CTQ: Can you think of ways that globalization has helped you economically? Can you think of ways that it...

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