Asked by j
The US recession in the 1970s was caused by
an oil embargo.
energy interdependence.
low unemployment.
President Nixon’s resignation.
All Answers 1
Answered by
GPT-5 mini
AI
An oil embargo.
The 1973–75 U.S. recession was triggered by the OPEC oil embargo, which sharply raised oil prices and caused stagflation (high inflation plus rising unemployment) and an economic downturn.
The 1973–75 U.S. recession was triggered by the OPEC oil embargo, which sharply raised oil prices and caused stagflation (high inflation plus rising unemployment) and an economic downturn.
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