The 1970s oil crisis led to significant economic repercussions in the United States, including widespread inflation and a recession. It prompted a shift in U.S. energy policy, increasing focus on energy conservation and alternative energy sources. Additionally, the crisis resulted in a heightened awareness of the country's dependence on foreign oil, ultimately spurring efforts to increase domestic production and fuel efficiency standards in vehicles.
Inflation and Unemployment was high! :)
Bailout A+
An outcome with benefits that are greater than the costs.
the government should allow the depression to progress naturally
The Soviet Union eventually dismantled the missile sites in Cuba.
There were long queues of cars before the petrol stations. At least one person was killed.
There were long queues of cars before the petrol stations. At least one person was killed.
The 1970s crisis in the U.S., marked by economic challenges such as stagflation, energy shortages, and rising unemployment, led to a significant shift in economic policy and political sentiment. The crisis prompted the abandonment of Keynesian economics in favor of supply-side policies, culminating in the election of Ronald Reagan in 1980. Additionally, it fostered a growing skepticism toward government intervention and a focus on free-market solutions. This period also saw increased social unrest and a re-evaluation of America's role in the global economy.
the democrats had majorities...
sensational
sensational
The 1970s oil crisis led to significant economic repercussions in the United States, including widespread inflation and a recession. It prompted a shift in U.S. energy policy, increasing focus on energy conservation and alternative energy sources. Additionally, the crisis resulted in a heightened awareness of the country's dependence on foreign oil, ultimately spurring efforts to increase domestic production and fuel efficiency standards in vehicles.
!
sensational
Brazil's economy grew at a very rapid rate.
Brazil's economy grew at a very rapid rate.