AnswersUnited States History and GeographyThe Economy in the 1970s

The Economy in the 1970s — Quiz Answers

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1
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Which measures did President Carter propose to help the US economy in the late 1970s?

A
an increase in US oil prices
B
a reduction in foreign oil supplies
C
an increase in US energy use
D
a reduction in foreign energy dependence
2
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As a result of a revolution in Iran during 1978 and 1979,

A
the cartel of countries controlling part of the oil market decided to increase production.
B
oil supplies to the US were disrupted, causing oil prices to rise.
C
the United States cut off diplomatic relations with Iran’s government.
D
the cartel of countries controlling part of the oil market decided to stop production.
3

When President Carter took office in 1977, the US economy was

A
improving slightly.
B
improving rapidly.
C
getting rapidly worse.
D
getting slightly worse.
4

President Carter’s Community Reinvestment Act

A
encouraged the wealthy to take out more loans.
B
encouraged the wealthy to invest in suburban areas.
C
encouraged banks to charge more interest on loans.
D
encouraged banks to lend in low- and moderate-income areas.
5

A major event that took place in the United States in 1979 was

A
a second oil embargo.
B
the creation of an oil cartel.
C
the creation of a US national bank.
D
an energy crisis.
6

A major event that took place in the United States in 1979 was

A
a second oil embargo.
B
the creation of an oil cartel.
C
an energy crisis.
D
the creation of a US national bank.
7

President Carter’s first economic plan proposed

A
challenging the oil embargo.
B
decreasing government spending.
C
increasing government spending.
D
lowering the price of everyday goods.
8

The US recession in the 1970s was caused by

A
President Nixon’s resignation.
B
energy interdependence.
C
an oil embargo.
D
low unemployment.
9

Which of these factors affected the US economy during the 1970s?

A
stagflation
B
low unemployment
C
low inflation
D
high GDP
10

Under President Carter, the Federal Reserve

A
increased discrimination against borrowers.
B
decreased wages paid to federal workers.
C
raised interest rates in an attempt to slow down inflation.
D
lowered interest rates in an attempt to help the economy.
11

President Carter’s Community Reinvestment Act

A
encouraged banks to lend in low- and moderate-income areas.
B
encouraged the wealthy to take out more loans.
C
encouraged banks to charge more interest on loans.
D
encouraged the wealthy to invest in suburban areas.
12

President Carter’s first economic plan proposed

A
increasing government spending.
B
lowering the price of everyday goods.
C
decreasing government spending.
D
challenging the oil embargo.
13

As a result of a revolution in Iran during 1978 and 1979,

A
the United States cut off diplomatic relations with Iran’s government.
B
oil supplies to the US were disrupted, causing oil prices to rise.
C
the cartel of countries controlling part of the oil market decided to increase production.
D
the cartel of countries controlling part of the oil market decided to stop production.
14

Under President Carter, the Federal Reserve

A
decreased wages paid to federal workers.
B
raised interest rates in an attempt to slow down inflation.
C
increased discrimination against borrowers.
D
lowered interest rates in an attempt to help the economy.
15

The US recession in the 1970s was caused by

A
energy interdependence.
B
President Nixon’s resignation.
C
low unemployment.
D
an oil embargo.
16

Which of these factors affected the US economy during the 1970s?

A
stagflation
B
low inflation
C
low unemployment
D
high GDP
17

Which measures did President Carter propose to help the US economy in the late 1970s?

A
a reduction in foreign oil supplies
B
an increase in US energy use
C
an increase in US oil prices
D
a reduction in foreign energy dependence

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