How did the crises in the 1970s illustrate the problem of economic interpendence?
A. All nations rely on oil and when nations with oil resources underwent political crises production was halted and prices soared creating economic shock waves.
B. The dependence of the United States on Middle Eastern oil was seriously damaged when saudi arabian oil fields were attacked by afghanistans rebel forces.
C. Multinational corporations had brought new technologies to devoloping countries which used this new technology to create alternative fuels at high costs.
D. Less developed nations once dependent on the middle east for oil, joined OPEC and were ale to get substantial discounts on oil reserves.
I Got D.
Correction* I Got B.
I disagree.
http://en.wikipedia.org/wiki/1973_oil_crisis
Actually, the correct answer is A.
During the 1970s, several major crises highlighted the problem of economic interdependence. One of the most significant events was the oil crisis, which started in 1973 when OPEC (Organization of the Petroleum Exporting Countries) countries imposed an oil embargo on nations that supported Israel in the Yom Kippur War. This resulted in a significant reduction in oil exports, leading to skyrocketing oil prices.
The economic interdependence problem became evident as all nations rely on oil for their energy needs. When nations with oil resources underwent political crises, production was halted, and prices soared, creating economic shockwaves. This directly impacted the global economy since oil is crucial for transportation, manufacturing, and other industrial activities.
Option B is incorrect because during the 1970s, there were no attacks on Saudi Arabian oil fields by Afghanistan's rebel forces.
Option C is not correct either, as the availability of alternative fuels at high costs did not solve or alleviate the problem of economic interdependence during the 1970s.
Option D is also not correct. The formation of OPEC and less developed nations receiving discounts on oil reserves did not address the underlying problem of economic interdependence but rather reflects a change in the balance of power within global oil markets.
Therefore, the correct answer is A, as it best explains how the crises in the 1970s illustrated the problem of economic interdependence.