Question: 1 9 7 0 , 1 9 7 5 , 1 9 8 0 , 1 9 8 5 , 1 9 9 0 ,

1970,1975,1980,1985,1990,1995
YE.AR
Figure 7.3
(Figure 7.3) We can definitively say that
5
points
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everyone must have been worse off since the price level rose faster than incomes.
the economy was experiencing stagflation.
sellers of output were better off than wage earners.
there were no redistributive effects of inflation.
1970,1975,1980,1985,1990,1995 YE.AR Figure 7.3 (Figure 7.3) We can definitively say that

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