Which of the following statements best describes countries with controlled economies in the 1970s?

Question

a. Countries with controlled economies in the 1970s, historically had very low rates of measured inflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements.
b. Countries with controlled economies in the 1970s, historically had very high rates of measured deflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements.
c. Countries with controlled economies in the 1970s, historically had very low rates of measured deflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements.
d. Countries with controlled economies in the 1970s, historically had no inflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements.

Answer 1

a. Countries with controlled economies in the 1970s, historically had very low rates of measured inflation—because prices were forbidden to rise by law, except for the cases where the government deemed a price increase to be due to quality improvements