what was one major cause of the recession in the united states in the 1970s?\no the oil crisis\no low…
what was one major cause of the recession in the united states in the 1970s?\no the oil crisis\no low inflation\no low unemployment\no the iran hostage crisis
Answer
Brief Explanations:
The 1970s oil crisis, when OPEC imposed an oil embargo, led to soaring oil prices. This increased production costs for businesses, reduced consumer spending power, and contributed to a recession in the US. Low inflation and low - unemployment are not causes of a recession. The Iran hostage crisis, while a significant event, was not a major cause of the 1970s recession.
Answer:
the oil crisis