The best description of the state of the US economy in the 1970s is:
c) Fewer jobs and lower wages gave Americans fewer resources.
The 1970s were marked by stagflation, a term used to describe the stagnation of economic growth alongside inflation. This unique situation led to a decrease in available jobs and a squeeze on wages for many Americans, resulting in less disposable income and fewer resources for households. The economic challenges of the decade included rising unemployment rates and soaring prices, which created a difficult environment for consumers and businesses alike. Therefore, option C succinctly captures the economic reality faced by many during this tumultuous decade.