OPEC Energy Crisis Quiz

What is the OPEC Energy Crisis?

• A time period during the 1930's in which the unemployment rate heightened

• The attack on Pearl Harbor on December 7, 1941

• Lasting from 1973-1974, the US along with other nations no longer received oil exports

• The armed uprising in Western Massachusetts in opposition to a debt crisis, also referred to as Shay's Rebellion

When did the OPEC Energy Crisis occur?

• 1973-1974, 1979

• 1800s

• 1789-1803

• Roaring 20's

Arab members of the OPEC created an embargo against the United States in retaliation for re-supplying which country?

• Russia

• Uzbekistan

• Egypt

• Israel

For which war was embargo imposed onto the US for?

• World War I

• Yom Kippur War

• Civil War

• Revolutionary War

What was one result of the OPEC Energy Crisis?

• Israel provided the United States with such a great abundance of oil that it was no longer suffering

• The economy heightened dramatically and the lines for gas were even shorter than prior to this event

• Capitalist countries were mandated to decrease their use of oil

• The embargo lowered gas prices tremendously

How do you feel about this OPEC Oil Embargo and Energy Crisis presentation?

• :I

• :))))

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Under President Carter, the Federal Reserve

• raised interest rates in an attempt to slow down inflation

• disregarded the entire process in hopes of it going away

• increased foreign energy dependence

The Federal Reserve's attempts to reduce inflation in 1979

• caused the economy to slow further

• resulted in another Red Scare

• contributed to the increase of employment

• allowed for the price of oil to diminish

What was one of the major effects of the oil crisis?

• Increased gas lines and poverty

• Economy flourished

• Peace between Israel and Arab countries

To resolve the oil embargo, taxes were passed to:

• Provide funding for Israel

• Subsidize transit and limit the use of oil and gas in electrical generation​

• Finance the Six Day war