The U.S. suffered from inflation and high unemployment during the 1970’s. This was due to the high unemployment, and high inflation happening at the same time. This is known as stagflation, something the U.S. had no policies in place to help prevent something of like this happening. During this time the economic growth was low which led to the high unemployment rate, and left people unable to go out and purchase new things. We were producing more goods, than we were consuming and exporting them. It was said to be that other issues going on in other countries was interfering with the supply of oil to the U.S., this led to gas prices rising, doubling what the U.S. was already paying. Although we believed that oil, gas prices, and currency speculators