THE 1970S 1969 1979
JIMMY CARTER AS PRESIDENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Being the president during a time of war
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Being the president who freed the hostages
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Being the president during a time of high inflation and rising energy costs
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None of the above
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Detailed explanation-1: -Inflation was even declared Public Enemy No. 1 in the United States-by President Gerald Ford in 1974.
Detailed explanation-2: -Low-income households most stressed by inflation They spend more of their income on necessities such as food, gas and rent-categories with greater-than-average inflation rates-leaving few ways to reduce spending .
Detailed explanation-3: -The big winner from inflation in an economy is the borrower and the government being the biggest borrower benefits the most from inflation. The rise in inflation will lead to higher income but the loan to be repaid remains the same.
Detailed explanation-4: -Inflation brings most benefits to debtors because people seek more money from debtors in order to meet the increased prices of commodities.
Detailed explanation-5: -In an inflationary environment, unevenly rising prices inevitably reduce the purchasing power of some consumers, and this erosion of real income is the single biggest cost of inflation. Inflation can also distort purchasing power over time for recipients and payers of fixed interest rates.