AnswersHCISD-US History Studies Since 1877 B-CR SUMMERThe Economy in the 1970s

The Economy in the 1970s Answers

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21
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What is President Carter urging Americans to do in this excerpt?

A
Accept wage and price controls
B
Raise interest rates
C
Reduce their consumption of energy
D
Lower interest rates
22
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Why did President Carter want to reduce rules for businesses?

A
To increase the price of oil and gas
B
To lower costs for government and consumers
C
To lower costs for businesses and consumers
D
To increase the price of consumer goods
23

Which of the following best describes President Carter’s energy policy?

A
It promoted increased energy consumption.
B
It promoted decreased energy consumption.
C
It disbanded OPEC to free up foreign oil supplies.
D
It forced the United States to produce enough oil for itself.
24

Use the graph to help you complete these two sentences.The graph shows that US petroleum (oil) consumption during Carter’s presidency. This means that Americans responded to Carter’s energy policy by

Answers:
Selection 1:increased slowly
Selection 2:increasing their dependence on oil.
25

What triggered the second oil shock in 1979?

A
Reduced demand for oil
B
A revolution in Iran
C
Increased demand for oil
D
A shortage in the United States
26

What does Carter mean when he says conservation is “the cheapest source of energy”?

A
Energy that is not used does not have to be paid for.
B
Alternative sources of energy are cheaper than oil.
C
Conservation makes oil basically free.
D
Energy needs will increase if people conserve more.
27

What happened when stagflation became a problem for the economy during Carter’s presidency?

A
The economy grew slowly even though the unemployment rate was low.
B
Prices got very low so consumers could afford more goods.
C
Prices got too high for consumers to afford.
D
The economy grew quickly even though the unemployment rate was high.
28

The purpose of this measure is to

A
Increase employment.
B
Combat inflation.
C
Lower interest rates.
D
Control consumption.
29

Reducing the regulations on businesses was part of President Carter’s plan to

A
Lower interest rates.
B
Lower inflation.
C
Raise unemployment.
D
Raise interest rates.
30

This means that Americans responded to Carter’s energy policy by

Answer not available
31

What effects did the oil shock have on the United States? Check all of the boxes that apply.

A
Economic stability
B
Gas shortages
C
High gas prices
D
Greatly increased oil production
E
Economic slowdown
32

What was the Community Reinvestment Act of 1977?

A
A law taxing communities and giving that money to banks
B
A law that gave money to people in low-income areas
C
A law that encouraged bank lending in low-income areas
D
A law taxing banks and lending that money to low-income people
33

Question text not available

Answer not available
34

What happened when stagflation became a problem for the economy during Carter’s presidency?

A
The economy grew slowly even though the unemployment rate was low.
B
Prices got very low so consumers could afford more goods.
C
Prices got too high for consumers to afford.
D
The economy grew quickly even though the unemployment rate was high.
35

Choose the right word or phrase to complete this sentence.The Fed’s interest-rate policy in the late 1970s encouraged✔ slowedsped up economic growth.

A
encouraged
B
slowed
C
sped up
36

The purpose of this measure is to

A
Increase employment.
B
Combat inflation.
C
Lower interest rates.
D
Control consumption.
37

Reducing the regulations on businesses was part of President Carter’s plan to

A
Lower interest rates.
B
Lower inflation.
C
Raise unemployment.
D
Raise interest rates.
38

Question text not available

Answer not available
39

What effects did the oil shock have on the United States? Check all of the boxes that apply.

A
Economic stability
B
Gas shortages
C
High gas prices
D
Greatly increased oil production
E
Economic slowdown

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