0
The United States began searching for ways to reduce the amount of oil it imported.
Americans began to realize the dangers of relying heavily on foreign fuel.
In addition, America's reliance on petroleum contributed to inflationary conditions.
Wiki User
∙ 7y ago
Add your answer:
Earn +20 pts
Which factor was a major cause of the stagnant economy in the US during the early 1970s?
Is it about the oil prices.
The US trade deficit first became a problem in the 1970s because .?
The price of foreign oil was raised by OPEC.
What Factors which led to recession in US?
Houses and debt in crisis
What was a lasting effect of the OPEC embargo in the 1970s on the US economy?
reduced use of petroleum
What decades was there both high inflation and rapid money supply growth in the US?
1970s
What best describes the outcome of the 1974 oil crisis in the US?
There were long queues of cars before the petrol stations. At least one person was killed.
What best describes an outcome of the 1974 oil crisis in the US?
There were long queues of cars before the petrol stations. At least one person was killed.
What was an event that happened in the 1970s that made many think the US was on the decline?
The Iranian hostage crisis or if you're speaking in economic terms - the OPEC oil crises of '73 and '79. This led to a large recession in the US economy.
Was a factor that created oil shortages in the US during the 1970s?
oil embargo
What was the outcome of the 1970 oil crisis in the US?
The United States began searching for ways to reduce the amount of oil it imported. Americans began to realize the dangers of relying heavily on foreign fuel. In addition, America's reliance on petroleum contributed to inflationary conditions.
When Did the US experience Cost Push inflation?
oil crisis of 1973
Was there an oil shortage in America in the 1970s?
Most definitely. The crisis occurred when, in response to US support of Israel in the Yom Kippur war, Arab oil producers cut back supply of oil to the US, and increased oil prices fourfold overnight. In October 1973, the oil crisis actually sparked a number of legislation changes in the US. Practical legislation to help improve fuel economy was enacted: this included imposing a highway speed limit of 55mph, and allowing motorists to turn right on a red light to minimise unnecessary idling. In November 1973, Nixon also called for a ban on gasoline sales on Sundays, a ban which lasted until the crisis was resolved in March 1974.
Which factor was a major cause of the stagnant economy in the US during the early 1970s?
Is it about the oil prices.
What was the outcome of the 1991 US attack in Iraq?
Oil production in Iraq dropped
The US trade deficit first became a problem in the 1970s because .?
The price of foreign oil was raised by OPEC.
What caused the US energy crisis in 1973?
The OPEC nations dramatically raised oil prices.
What action did OPEC take in 1973 against the US and what impact did it have on the American economy?
The 1973 Oil Crisis.
