Question

according to the article, which economic event sparked the decade-long economic crisis?
○ the nixon administrations wage and price \freeze\
○ the carter administrations refusal to support israel
○ a sudden increase in oil prices in 1973
○ the end of the vietnam war

Explanation:

To determine the economic event that sparked a decade - long economic crisis, we analyze each option:

• The Nixon administration's wage and price “freeze” was a response to inflation, not the spark of a long - term crisis.
• The Carter administration's stance on Israel is more of a foreign policy issue and not the main cause of a decade - long economic crisis.
• In 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) imposed an oil embargo, leading to a sudden increase in oil prices. This had far - reaching economic consequences, including stagflation (high inflation and high unemployment), and started a decade - long period of economic turmoil in many Western economies.
• The end of the Vietnam War, while having some economic impacts related to defense spending changes, was not the primary spark of a decade - long economic crisis.

Answer:

C. a sudden increase in oil prices in 1973