What initiated the early 1990's recession in the United States?
A) The U.S. started trading more with Canada and Mexico.
B) Farm production declined dramatically as a result of a drought.
C) A spike in oil prices due to the Iraqi invasion of Kuwait.
D) Consumers spent too much on durable goods and cut back on nondurables spending.

Question

Quizplus · Accepted Answer

The early 1990s recession in the United States was significantly influenced by a spike in oil prices, which occurred due to the Iraqi invasion of Kuwait. This event led to increased costs for businesses and consumers, contributing to the economic downturn.

What Initiated the Early 1990's Recession in the United States