13. which of the following was a major economic concern in the mid- to late 1970s? a. labor shortages b. deflation c. food shortages d. inflation

The correct answer is letter D.

In the 1970s the stock market was facing difficult times, it has lost 40% in an 18-month period. The whole economy was weak and the unemployment rates were high. All of these led to what is known as Great Inflation, that started in late 1972 and didn’t end until the early 1980s.

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