Answer:
inflation and unemployment rates were high
Explanation:
In the 1970s the world economy went through a turbulent scenario whose main motive was the cartel formed by the Organization of Petroleum Exporting Countries (OPEC), which raised the price of a barrel of oil as a way of retaliating against the USA and the nations of the West for political reasons, such as support for the state of Israel.
The US was heavily impacted as it was OPEC's biggest buyer of oil. Thus, the rise in the price of oil caused inflation and impacted the country's economic activity, raising costs to the point of closing companies, increasing unemployment and inflation.
