What economic factors caused the economic recession in 1974?

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asked Jan 2, 2022 135k views

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Manoj H L · Answer 1 · 2022-01-06T08:11:34+0000

Answer:

it was The recession of 1973-1975 in the U.S. came about because of rocketing gas prices caused by OPEC's raising oil prices as well as embargoing oil exports to the U.S. Other major factors included heavy government spending on the Vietnam War, and a Wall Street stock crash in 1973-74.

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What economic factors caused the economic recession in 1974?

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