When Nixon refused to withdraw support of Israel, OPEC responded by:A.refusing to sell oil to the United States.B.giving in to American demands.C.seeking the intervention of the Soviet Union.D.increasing the trade of oil with the United States.

Which of the following best describes an outcome of the 1970s oil crisis in the United States?A.International support for free trade agreements reached historically low levels.B.U.S. corporations agreed to strict international emissions regulations.C.Americans increased their fuel use to protest the government’s handling of the crisis.D.The U.S. government increased its investment in researching alternative fuel sources.

Which of the following best describes an outcome of the 1970s oil crisis in the United States?A.The U.S. government increased its investment in researching alternative fuel sources.B.International support for free trade agreements reached historically low levels.C.U.S. corporations agreed to strict international emissions regulations.D.Americans increased their fuel use to protest the government’s handling of the crisis.

What was the purpose behind the formation of OPEC?Group of answer choicesIn order to protect their economies, five oil-producing nations formed an organization that would help each of them answer oil production and distribution questions.It was formed to distribute oil to other parts of the world and boost the economy.It was formed to help boost the economy by importing oil from other nations.It was formed as a result of the Congo Crisis.

n 1973 the Organization of Petroleum Exporting Countries (OPEC) raised the price of a barrel of oil by 400% and some Arab members placed an oil embargo on countries (i.e. the United States) which supported Israel in the ‘Yom Kippur’ war against Egypt and Syria. Show in the AS-AD model the impact of this event on a developed oil-importing country and consider the best policy response to stabilise the economy at a long run equilibrium position.

Richard Nixon was forced to resign because he:A.had appointed Henry Kissinger as his secretary of state.B.faced impeachment for his part in the Watergate scandal.C.could not win the war in Vietnam.D.distanced the United States from China