What was one major cause of the recession in the United States in the 1970s? the oil crisis low inflation low unemployment the Iran hostage crisis

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Alayna Gross

30 June, 20:33

What was one major cause of the recession in the United States in the 1970s? the oil crisis low inflation low unemployment the Iran hostage crisis

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Nash Wolfe · Answer 1

It was the "oil crisis" that was one major cause of the recession in the United States in the 1970s, since many countries in the Middle East cut prices to manipulate prices. This put a focus on alternative energy sources that continues today.