The us ressecion in the 1970s was caused by

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Caitlin Porter

History

20 June, 13:34

The us ressecion in the 1970s was caused by

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Priscilla Salazar · Answer 1

Reasons and Causes: This long, deep recession was brought on by the quadrupling of oil prices and high government spending on the Vietnam War. This led to stagflation and high unemployment. Unemployment finally reached 9% in May of 1975. (For more, see: Stagflation in the 1970s.)