AnswersFall 24 US History B ICJohnson's Great Society

The Economy in the 1970s 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
a reduction in foreign energy dependence
B
a reduction in foreign oil supplies
C
an increase in US oil prices
D
an increase in US energy use
2
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The Federal Reserve’s attempts to reduce inflation in 1979

A
caused the economy to improve slowly.
B
had no real impact on the economy.
C
caused the economy to slow further.
D
caused the economy to improve greatly.
3

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

A
stagflation
B
low inflation
C
low unemployment
D
high GDP
4

How did President Carter respond to the energy crisis in 1979?

A
He tried to develop alternative trade partners for oil.
B
He tried to increase US oil production.
C
He decreased oil shipments from OPEC nations.
D
He increased oil shipments from OPEC nations.
5

Under President Carter, the Federal Reserve

A
raised interest rates in an attempt to slow down inflation.
B
lowered interest rates in an attempt to help the economy.
C
increased discrimination against borrowers.
D
decreased wages paid to federal workers.
6

The US recession in the 1970s was caused by

A
an oil embargo.
B
energy interdependence.
C
low unemployment.
D
President Nixon’s resignation.
7

How did the shortage of oil from OPEC nations affect the United States?

A
It created more unemployment.
B
It lowered unemployment.
C
It helped businesses to diversify.
D
It caused oil production to rise.
8

What did Americans experience during the oil shock of 1979?

A
lower gas prices
B
gas shortages
C
better relations with OPEC nations
D
more efficient business practices
9

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

A
oil supplies to the US were disrupted, causing oil prices to rise.
B
the cartel of countries controlling part of the oil market decided to increase production.
C
the cartel of countries controlling part of the oil market decided to stop production.
D
the United States cut off diplomatic relations with Iran’s government.
10

Study the graph.How much did inflation increase during President Carter’s term?

Question illustration
A
by about 7 percentage points
B
by 10 percentage points
C
by about 15 percentage points
D
by 5 percentage points
11

The Federal Reserve’s attempts to reduce inflation in 1979

A
caused the economy to improve slowly.
B
had no real impact on the economy.
C
caused the economy to slow further.
D
caused the economy to improve greatly.
12

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

A
stagflation
B
low inflation
C
low unemployment
D
high GDP
13

President Carter’s policies for increasing economic growth in America

A
had no impact.
B
had a slight impact.
C
were highly controversial.
D
were met with resistance.
14

Both the oil embargo of 1973 and the oil shock of 1979 showed the United States that

A
it was easier to get oil from OPEC than to produce oil at home.
B
the government needed to be less dependent on foreign oil production.
C
the government could not get enough oil from OPEC or oil-producing countries.
D
the government needed to start exploring alternate sources of energy.
15

How did the shortage of oil from OPEC nations affect the United States?

A
It created more unemployment.
B
It lowered unemployment.
C
It helped businesses to diversify.
D
It caused oil production to rise.
16

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

A
a reduction in foreign energy dependence
B
a reduction in foreign oil supplies
C
an increase in US oil prices
D
an increase in US energy use
17

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.
18

The US recession in the 1970s was caused by

A
an oil embargo.
B
energy interdependence.
C
low unemployment.
D
President Nixon’s resignation.
19

How did President Carter respond to the energy crisis in 1979?

A
He tried to develop alternative trade partners for oil.
B
He tried to increase US oil production.
C
He decreased oil shipments from OPEC nations.
D
He increased oil shipments from OPEC nations.
20

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

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

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