The Economy in the 1970s Answers
0 verified answers1 views
1
Free Preview
What did Americans experience during the oil shock of 1979?
A
lower gas pricesB
gas shortagesC
better relations with OPEC nationsD
more efficient business practices2
Free Preview
The Federal Reserve’s attempts to reduce inflation in 1979
A
caused the economy to improve slowly.B
had no real impact on the economy.C
caused the economy to slow further.D
caused the economy to improve greatly.3
As a result of a revolution in Iran during 1978 and 1979,
A
oil supplies to the US were disrupted, causing oil prices to rise.B
the cartel of countries controlling part of the oil market decided to increase production.C
the cartel of countries controlling part of the oil market decided to stop production.D
the United States cut off diplomatic relations with Iran’s government.4
How did the shortage of oil from OPEC nations affect the United States?
A
It created more unemployment.B
It lowered unemployment.C
It helped businesses to diversify.D
It caused oil production to rise.5
Both the oil embargo of 1973 and the oil shock of 1979 showed the United States that
A
it was easier to get oil from OPEC than to produce oil at home.B
the government needed to be less dependent on foreign oil production.C
the government could not get enough oil from OPEC or oil-producing countries.D
the government needed to start exploring alternate sources of energy.6
President Carter’s policies for increasing economic growth in America
A
had no impact.B
had a slight impact.C
were highly controversial.D
were met with resistance.7
Study the graph.How much did inflation increase during President Carter’s term?
A
by about 7 percentage pointsB
by 10 percentage pointsC
by about 15 percentage pointsD
by 5 percentage points8
How did President Carter respond to the energy crisis in 1979?
A
He tried to develop alternative trade partners for oil.B
He tried to increase US oil production.C
He decreased oil shipments from OPEC nations.D
He increased oil shipments from OPEC nations.9
When President Carter took office in 1977, the US economy was
A
improving rapidly.B
improving slightly.C
getting slightly worse.D
getting rapidly worse.10
Which of the following factors affected the US economy during the 1970s?
A
stagflationB
low inflationC
low unemploymentD
high GDPDid you find these answers helpful?
Verified answers available
TRY EDGENUITY HACKS
- Auto Complete Exams
- Auto Complete Assignments
- Skip Videos Instantly
50,000+ students using this