The Economy in the 1970s

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

He tried to increase US oil production.

The Federal Reserve’s attempts to reduce inflation in 1979

caused the economy to slow further.

Stagflation in the US economy during the 1970s resulted in

slow economic growth

According to the graph, which best states how the price of oil per barrel changed between 1976 and 1981?

The price more than doubled.

The Community Reinvestment Act of 1977 succeeded in

reducing discrimination against borrowers.

President Carter’s Community Reinvestment Act

encouraged banks to lend in low- and moderate-income areas.

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

stagflation

President Carter’s first economic plan proposed

increasing government spending

Under President Carter, the Federal Reserve

raised interest rates in an attempt to slow down inflation.

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

Iran’s government was replaced by one that was hostile to the United States.

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

improving slightly.

The US recession in the 1970s was caused by

an oil embargo.

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

an energy crisis.

How much did inflation increase during President Carter’s term?

by about 7 percentage points

What did Americans experience during the oil shock of 1979?

gas shortages

President Carter’s policies for increasing economic growth in America

had a slight impact.

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

a reduction in foreign energy dependence

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

It created more unemployment.

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