The correct answer is C) Americans in the 1970s experienced a steep rise in product prices.
Based on the graph, the statement that is true is "Americans in the 1970s experienced a steep rise in product prices."
In the decade of the 1970s, a great inflation period characterized the American Economy. The economy was weak and unemployment grew. The Fed policies generated high inflation. Later, it changed the policy and elevated the interests rates, causing so much trouble to industries such as the automobile and housing.
