Which political act played a significant role in the economic stagnation of Western Europe in the early 1970s?
A) the rapid expansion of state-run economies in Eastern Europe
B) the oil embargo staged by the Organization of Petroleum Exporting Countries (OPEC) in 1973
C) the failure of Britain's devaluation of its currency in 1967 to produce a new wave of growth
D) the sudden reversal of West Germany's industrial "economic miracle"
E) the global recession caused by the near collapse of the Japanese economy
Correct Answer:
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