Question

During which of the following eras was the ‘Misery Index’ (the sum of the Inflation Rate...

During which of the following eras was the ‘Misery Index’ (the sum of the Inflation Rate + the Unemployment Rate) the highest?

Group of answer choices

a. 1985-1986

b. 1960-1964

c. 1971-1972

d. 1979-1981

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Answer #1

Option d - 1979 - 1981

Explanation : The misery index is an economic indicator created by economist Arthur Okun. The index helps determine how the average citizen is doing economically and it is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.

The misery index was highest in the year 1980. The first misery index was created in 1960's. The higher the index, the more is the misery felt by average citizens.

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