QUESTION IMAGE
Question
the us recession in the 1970s was caused by
an oil embargo.
energy interdependence.
low unemployment.
president nixons resignation.
Brief Explanations
The 1973 oil embargo by OPEC led to a sharp rise in oil prices, which triggered high inflation, supply chain disruptions, and economic contraction in the US, causing the 1970s recession. Energy interdependence is a broader condition, not a direct cause; low unemployment is the opposite of a recessionary trait; Nixon's resignation did not drive the recession.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
an oil embargo.