Quiz for America Compared: Economic Malaise in the Seventies

Question

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Correct. The answer is a. In the late 1970s and early 1980s, the U.S. transition from an industrial-manufacturing economy to a postindustrial service economy became increasingly evident. The United States began to produce fewer automobiles, appliances, and electronics and more financial services, health-care services, and management consulting services. At the same time, Japan’s modern steel industries, built to incorporate the latest technology, surpassed the productivity of the American steel corporations, hastening the dismantling of American steel.
Incorrect. The answer is a. In the late 1970s and early 1980s, the U.S. transition from an industrial-manufacturing economy to a postindustrial service economy became increasingly evident. The United States began to produce fewer automobiles, appliances, and electronics and more financial services, health-care services, and management consulting services. At the same time, Japan’s modern steel industries, built to incorporate the latest technology, surpassed the productivity of the American steel corporations, hastening the dismantling of American steel.

Question

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Correct. The answer is c. These two tables illustrate the fluctuations in the GDP and unemployment rates in the major industrialized Western powers in the 1970s and 1980s and show that they rose and fell in the same basic patterns over that period. The similarities illustrate the success of the United States’ post-World War II efforts to create a global capitalist economy.
Incorrect. The answer is c. These two tables illustrate the fluctuations in the GDP and unemployment rates in the major industrialized Western powers in the 1970s and 1980s and show that they rose and fell in the same basic patterns over that period. The similarities illustrate the success of the United States’ post-World War II efforts to create a global capitalist economy.