The high inflation rates of the late 1960’s and early 1970’s 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.
