In the 1970s, the supply of gas was affected by price controls imposed by the Nixon administration and then by an oil embargo by Arab members of the Organization of Petroleum Exporting Countries (OPEC).
As a political move aimed at pleasing voters, President Richard Nixon announced in 1971 (prior to his reelection campaign of 1972), "I am today ordering a freeze on all prices and wages throughout the United States.” The wage and price controls the Nixon administration sought to put in place interfered with natural market forces and oil supplies were reduced. That problem was magnified in 1973 when oil exporting countries in the Arab world imposed an embargo on supplies to the United States due to US support of Israel in a war that Israel was fighting against a coalition of Arab states.
Both factors -- lingering efforts at price controls and continued control of the oil and gas market by OPEC nations -- played into the long lines at gas pumps seen in America in the 1970s.
When Christopher Columbus landed in the Caribbean, he "discovered the Americas"
This is because it was after Christopher Columbus landed in what is the modern-day Bahamas in 1492, that is when Europe and the rest of the world began to know more about the continent of America.
- Option D is not correct because Colombus is not the first person to set foot in the Western Hemisphere, rather it was a group of Vikings led by Leif Erikson about 500 years before Colombus.
- Also, option B is not correct, because he was not generous to the native people he met there. Rather he exploited them, and through his expedition, the transatlantic exploitation started.
- Option A is also wrong as well. This is because he did not connect the Americas to Europe and Africa by sea. Rather it was some other European slave traders that specifically the Portuguese that did that.
Hence, in this case, the correct answer is option C. "discovered the Americas."
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Answer:
Inflation
Explanation:
Which of the following economic terms describes an increase in product price without the increase of money's worth? inflation.
