Which event probably contributed to the stagflation of the 1970s?
A)worldwide agricultural surpluses
B)an improvement in productivity of resources
C)an appreciation in the dollar
D)a sharp rise in the price of oil

Question

Quizplus · Accepted Answer

The sharp rise in the price of oil during the 1970s, particularly due to the oil embargo by OPEC, led to increased costs for goods and services, contributing to stagflation, which is characterized by high inflation and stagnant economic growth.

Which Event Probably Contributed to the Stagflation of the 1970s