The united states experienced two oil shocks during the, Ask an Expert

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The United States experienced two oil shocks during the 1970s in the aftermath of the Middle East tensions. Congress said no to high oil prices by passing a law prohibiting prices above a legal limit. Supporters of such price controls said this was a way to ensure adequate supply without allowing oil producers to earn excess profits. Did price controls increase, decrease, or have no effect on U.S. oil production during the 1970s?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91711373

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