Question

50 POINTS MULTIPLE CHOICE

What were two effects of OPEC’s 1973 oil embargo on the US economy?

The price of oil rose dramatically.
The government began importing oil from Venezuela.
The United States joined OPEC.
The United States faced a severe oil shortage.
The US government instructed car manufacturers to produce fewer cars.

Answer 1

Siii The price of oil rose dramatically.

Step-by-step explanation:

Answer 2

The United States faced a severe oil shortage.

Step-by-step explanation:

The OPEC oil embargo was a decision to stop exporting oil to the United States. On October 19, 1973, the 12 OPEC members agreed to the embargo. Over the next six months, oil prices quadrupled.