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Question
how did the shortage of oil from opec nations affect the united states?
○ it created more unemployment.
○ it lowered unemployment.
○ it helped businesses to diversify.
○ it caused oil production to rise.
The OPEC oil shortage (e.g., 1970s crisis) led to skyrocketing oil prices, which increased production and transportation costs for U.S. businesses. Many industries scaled back operations, leading to layoffs and higher unemployment. The other options are incorrect: lower unemployment contradicts the economic contraction; business diversification was a longer-term, indirect effect not the immediate impact; U.S. oil production rose later as a response, not a direct immediate effect of the shortage itself.
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A. It created more unemployment.