Modern Texas Review

What happened to the majority of Texas banks in the 1980s and 1990s?

• They failed due to bad land deals and criminal activities

• They expanded rapidly and became successful

• They merged with international banks

• They focused on technology investments

What was the result of the Texas bank failures in the 1980s and 1990s?

• A recession and a drop in real estate prices

• An increase in job opportunities

• A rise in oil prices

• A boom in the technology sector

Which event in the 2000s led to many people losing their jobs and being unable to pay their mortgages?

• The Great Recession in 2008

• The Dot-com Bubble

• The Texas Oil Boom

• The Housing Market Crash of 1995

Why does the housing market in Texas continue to boom today?

• More corporations are moving into Texas

• The banking industry is failing

• Criminal activities are increasing

• Oil prices are dropping

Why did banks fail in the 1980s and 1990s?

• Because of poor management and risky loans

• Because of natural disasters

• Because of technological advancements

• Because of increased government funding

Analyze the effects of commercial farming on rural communities.

• Many small farmers and ranchers are forced to leave rural areas and move to urban areas for work.

• Rural communities become more populated.

• Small farmers gain more land.

• Rural areas become wealthier.

What was the main effect of the OPEC oil embargo in the 1970s and 1980s on the United States?

• It increased the supply of oil and lowered gas prices.

• It decreased the supply of oil and led to soaring gas prices.

• It had no effect on oil supply or gas prices.

• It caused oil refineries to shut down permanently.

Which Texas cities saw the establishment of new oil refineries during the oil and gas boom caused by the embargo?

• Dallas, Austin, and El Paso

• Beaumont, Houston, and Corpus Christi

• San Antonio, Lubbock, and Amarillo

• Fort Worth, Galveston, and Waco

What happened to oil and gas prices when OPEC lifted the embargo and resumed exporting oil to the United States?

• Prices increased

• Prices stayed the same

• Prices dropped

• Prices doubled

Why did gas prices soar in the 1970s?

• Because of increased oil production

• Due to oil embargoes and supply shortages

• Because of technological advancements

• Due to lower demand for gasoline