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How did the opec embargo contribute to stagflation problems in the early 1970s?
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∙ 7y ago
The OPEC embargo of 1973 led to a sharp increase in oil prices, which raised production costs for businesses and resulted in higher prices for consumers. This triggered inflation as prices across the economy rose. At the same time, the decrease in oil supply caused by the embargo led to a slowdown in economic growth, contributing to the high inflation and high unemployment characteristic of stagflation.
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How did the embargo by the Organization of Petroleum Exporting Countries contribute to stagflation problems in the early 1970s?
oil prices increased
How did the Organization of Petroleum Exporting countries embargo contribute to stagflation problem in 1970s?
oil prices increased
How did the organization of petroleum exporting countries embargo contribute to stagflation problem in the early 1970s?
oil prices increased
What is stagflation in the 1970s most associated with?
the oil embargo
Stagflation in the 1970s is most associated with?
The oil embargo
Why did economists invent the term stagflation to describe the economic problems in the US in the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the US during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economist invent the term stagflation to describe the economic problems in the US during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economics invent the term stagflation to describe the economic problems in the US during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the united States during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economist invent the term stagflation to describe the economic problems in the United States during the 1970s?
to describe a situation caused by a weak economy and rising prices
A major problem for the US in the late 1970s?
Government programs discoruaging stagflation
