The Economy in the 1970s

Question 1

Both the oil embargo of 1973 and the oil shock of 1979 showed the United States that

Revolt · Accepted Answer

the government needed to be less dependent on foreign oil production.

Question 2

What did Americans experience during the oil shock of 1979?

Revolt · Accepted Answer

gas shortages

Question 3

President Carter’s policies for increasing economic growth in America

Revolt · Accepted Answer

had a slight impact.

Question 4

How did President Carter respond to the energy crisis in 1979?

Revolt · Accepted Answer

He tried to increase US oil production.

Question 5

President Carter’s Community Reinvestment Act

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encouraged banks to lend in low- and moderate-income areas.

Question 6

When President Carter took office in 1977, the US economy was

Revolt · Accepted Answer

improving slightly.

Question 7

Which measures did President Carter propose to help the US economy in the late 1970s?

Revolt · Accepted Answer

a reduction in foreign energy dependence

Question 8

Study the graph.How much did inflation increase during President Carter’s term?

Revolt · Accepted Answer

by about 7 percentage points

Question 9

A major event that took place in the United States in 1979 was

Revolt · Accepted Answer

an energy crisis.

Question 10

As a result of a revolution in Iran during 1978 and 1979,

Revolt · Accepted Answer

oil supplies to the US were disrupted, causing oil prices to rise.

The Economy in the 1970s Answers