The high inflation rates of the late 1960s and early 1970s were primarily the result of:

A. major state and federal tax increases
B. increased investment in major industries
C. spending on social-welfare programs and the Vietnam War
D. a decline in foreign trade
E. deregulation of key transportation and defense industries

The high inflation rates of the late 1960s and early 1970s were a result of the speeding on social-welfare programs and the increased and continuous funding on the Vietnam War. Therefore, the answer to this question is C.

Answered by Gibbs | 2024-06-10

The high inflation rates in the late 1960s and early 1970s were primarily due to increased federal spending on the Vietnam War and social welfare programs under the Great Society initiatives. Instead of raising taxes, the government adopted expansionary monetary policies, leading to significant inflation. Thus, the answer is C.
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Answered by Gibbs | 2024-10-02