How did the Arab oil embargo impact the U.S. economy?

What will be an ideal response?


Answer: The ideal answer will include:
1. The Arab oil embargo had a disastrous impact on the American economy.
2. As oil prices rose, price shocks and gasoline shortages hit the U.S. economy.
3. The energy crisis, however, did not end with the lifting of the embargo.
4. Higher oil prices led to higher inflation and unemployment, a combination known as stagflation.
5. Economic hard times shaped the entire decade.

History

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In the rural west of the late empire, many cities were reconfigured as walled fortresses. For civilians, life revolved around the villa, a(n) __________.

A. corner market B. country estate C. village of a few hundred people D. extended family

History

The early civilizations of Mesoamerica developed as a result of advances in

A) trade. B) hunting. C) agriculture. D) religion. E) the arts.

History

The Tang capital of Chang'an grew into perhaps the largest city in the world, containing as many as __________ inhabitants.

a. 1 million. b. 500,000. c. 5 million. d. 2 million.

History

The final surrender of Lee's Confederate Army came at

A. Petersburg. B. Leesburg. C. Atlanta. D. Fort Sumter. E. Appomattox Courthouse.

History