Explain the reasons for economic troubles in the

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Business Law Today, Standard: Text & Summarized Cases
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Chapter 9 / Exercise 01
Business Law Today, Standard: Text & Summarized Cases
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Explain the reasons for economic troubles in the United States during the 1970s. Discuss Jimmy Carter’s domestic and foreign policies. Reading Strategy Organizing As you read about the administrations of Presidents Ford and Carter, complete a graphic organizer list- ing the causes of economic problems in the 1970s. Preview of Events Ford and Carter CHAPTER 19 Politics and Economics 863 CHAPTER 19 Politics and Economics 863 Economic Problems in the 1970s Causes 1973 OPEC price increases cause inflation in the United States 1975 1977 1974 President Ford pardons Richard Nixon 1976 Jimmy Carter wins presidential election 1979 Iranian revolutionaries seize U.S. embassy in Iran 1973 1979 . The Big Idea , Social and economic crises lead to new roles for government. During the 1970s, the postwar prosperity of the 1950s and 1960s ended. Inflation, a stagnant economy, and an oil embargo combined to create an economic crisis. Faced with the worst recession since the Great Depression, President Ford instituted several plans to improve the economy, to no avail. He also continued efforts to improve relations with China and the Soviet Union. With the economy continuing to decline, Jimmy Carter defeated President Ford in the 1976 presidential election. President Carter’s efforts to improve the economy and end the energy crisis were equally unsuccessful. His attempts to base foreign policy on morality met with both success and failure. Carter was able to help negotiate a peace treaty between Israel and Egypt but could not negotiate the release of 52 Americans taken hostage in Iran. The following are the main History–Social Science Standards covered in this section. 11.9.3 Trace the origins and geo- political consequences (foreign and domestic) of the Cold War and containment policy, including the following: the era of McCarthyism, instances of domestic Communism (e.g., Alger Hiss) and blacklisting; the Truman Doctrine; the Berlin Blockade; the Korean War; the Bay of Pigs invasion and the Cuban Missile Crisis; atomic test- ing in the American West, the “mutual assured destruction” doctrine, and disar- mament policies; the Vietnam War; Latin American policy. 11.9.6 Describe U.S. Middle East policy and its strategic, political, and economic interests, including those related to the Gulf War. 11.11.2 Discuss the significant domestic policy speeches of Truman, Eisenhower, Kennedy, Johnson, Nixon, Carter, Reagan, Bush, and Clinton (e.g., with regard to education, civil rights, economic policy, environmental policy). 11.11.4 Explain the constitutional crisis originating from the Watergate scandal.
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Business Law Today, Standard: Text & Summarized Cases
The document you are viewing contains questions related to this textbook.
Chapter 9 / Exercise 01
Business Law Today, Standard: Text & Summarized Cases
Jentz/Miller
Expert Verified
The Economic Crisis of the 1970s Inflation, a stagnant economy, and an oil embargo created an economic crisis during the 1970s.

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