During the early 1990s, the American economy was:

A) spiraling into a depression.

B) the wealthiest in the world.

C) dependent on aid from Western Europe.

D) less well-off than in previous years.

Question

Mimi

History

24 March, 23:35

During the early 1990s, the American economy was:

A) spiraling into a depression.

B) the wealthiest in the world.

C) dependent on aid from Western Europe.

D) less well-off than in previous years.

+1

Answers (1)

Know the Answer?

Gabriel Woodward · Answer 1

The right answer is:

A) spiraling into a depression.

Explanation:

The Gulf War of 1990-91 achieved its goals but it caused the oil prices to skyrocket. The oil shock hit the economy, it contributed to lower levels of consumer and business confidence. It led to a short-term recession. The economy had been already weakened by a restrictive monetary policy followed by the Federal Reserve.

During the early 1990s, the American economy was:A) spiraling into a depression.B) the wealthiest in the world.C) dependent on aid from Western Europe.D) less well-off than in previous years.

During the early 1990s, the American economy was:

A) spiraling into a depression.

B) the wealthiest in the world.

C) dependent on aid from Western Europe.

D) less well-off than in previous years.