Was the year 1972 a good economy? Why?

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  • Anonymous
    1 year ago
    Favorite Answer

    The economies of the advanced countries in 1972 moved steadily forward.

    The 1973–75 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall Post–World War II economic expansion.

    In October of 1973, the Arab members of OPEC placed an embargo on the U.S. in response to its support of Israel and the Yom Kippur War. The result was an oil shortage across the country, and a crash course for Americans on the limits of their government’s power.

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  • Clive
    Lv 7
    1 year ago

    A year is not an economy. It's a year.

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