The Economy in the 1970s

Question 1

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

Revolt · Accepted Answer

an energy crisis.

Question 2

How did the shortage of oil from OPEC nations affect the United States?

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It created more unemployment.

Question 3

President Carter’s policies for increasing economic growth in America

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had a slight impact.

Question 4

Which of the following factors affected the US economy during the 1970s?

Revolt · Accepted Answer

stagflation

Question 5

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 6

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

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

Question 7

The Federal Reserve’s attempts to reduce inflation in 1979

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caused the economy to slow further.

Question 8

President Carter’s first economic plan proposed

Revolt · Accepted Answer

increasing government spending.

Question 9

Under President Carter, the Federal Reserve

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raised interest rates in an attempt to slow down inflation.

Question 10

What did Americans experience during the oil shock of 1979?

Revolt · Accepted Answer

gas shortages

The Economy in the 1970s Answers