In the early 1970s, the post-World War II economic boom began to wane, due to increased international competition, the expense of the Vietnam War, and
the decline of manufacturing jobs
.
Which of the following factors affected the US economy during the 1970s?
Which of the following factors affected the US economy during the 1970s?
an energy crisis
.
What were the major causes for the decline of the US economy in the 1970s quizlet?
The government had
large budget deficits and the national debt tripled
. Families and communities were devastated by closing factories and job losses.
Which is a true statement about the US economy during the 1970s quizlet?
Which is a true statement about the US economic climate during the 1970s?
Inflation and unemployment rates were high.
What economic problem plagued the American economy in the 1970s?
Rising oil prices
should have contributed to economic growth. In reality, the 1970s was an era of rising prices and rising unemployment; the periods of poor economic growth could all be explained as the result of the cost-push inflation of high oil prices.
What were the consequences of economic decline in the 1970s quizlet?
The consequences of economic decline in the 1970s were
politics in Western Europe drifted to the right, and the leaders cut taxes and state spending and sold off
. You just studied 4 terms!
How were the economic challenges of the 1970s unique in American history?
Unemployment created jobless Americans
with less money to spend; therefore, prices would stay the same or fall. Surprisingly, the United States experienced high unemployment and high inflation simultaneously in the 1970s — a phenomenon called stagflation. … Oil prices also influence the prices of all consumer goods.
What caused the recession of 1973 75?
The recession of 1973-1975 in the U.S. came about because of
rocketing gas prices caused by OPEC’s raising oil prices
as well as embargoing oil exports to the U.S. Other major factors included heavy government spending on the Vietnam War, and a Wall Street stock crash in 1973-74.
Which is true about the US economy during the 1970s?
Explanation: The correct answer to this question is option c.
inflation and unemployment both were high
during 1970s. The 1970s were a time of both high inflation and high unemployment in the U.S. because of two huge oil supply stuns.
When President Carter took office in 1977 the US economy was improving rapidly improving slightly getting slightly worse getting rapidly worse?
Answer Expert Verified Answer: Improving rapidly. When Jimmy Carter took office in 1977, the US economy was still recovering from the severe 1973-75 recession. However, it was doing so at a fast pace. The period of 1977-78 saw the creation of a million net new jobs and real median household income growth by 5%.
Which best describes a way in which no child left behind was effective quizlet?
Which best describes a way in which No Child Left Behind was effective?
It raised standards for all students
. How did President Bush respond to Hurricane Katrina? He sent US troops to help distribute supplies and repair damage.
Which best describes the state of the US economy of the 1970s?
Which best describes the state of the US economy of the 1970s?
Fewer jobs and lower wages gave Americans fewer resources.
What was a cause of the Iran hostage crisis in 1979 quizlet?
US involvement in Iran was
motivated by oil interests and Cold War rivalry with USSR
. Backed by US in exchange for oil. Iran recieves military and economic aid for over 20 years from US. Many Iranian were angered by Shah’s alliance with a non Muslim country.
What economic problems plagued the United States in the 1970s quizlet?
Lastly, the U.S. faced
an inflation
in the 1970s caused by rising oil prices and federal inflation, (which had its roots in Lyndon B.
What did the oil embargo reveal about the American economy in the 1970s?
The onset of the embargo contributed to an upward spiral in oil prices with global implications.
The price of oil per barrel first doubled, then quadrupled, imposing skyrocketing costs on consumers and structural challenges to the stability of whole
national economies.
What is stagflation How did it affect the economy of the 1970s?
Stagflation refers to an economy that
is experiencing a simultaneous increase in inflation and stagnation of economic output
. Stagflation was first recognized during the 1970s, when many developed economies experienced rapid inflation and high unemployment as a result of an oil shock.
