In 1983, oil prices in Texas fell from $34 to $10 per barrel causing oil firms to struggle to stay in business which ultimately led to many Texans losing their jobs. This period of great profits followed by a sharp decline is known as?
A: Oil Embargo
B: Boom-and-Bust
C: Great Depression
D: New Deal
Jesus can someone just give the answer instead of me seeing ms. sue saying something crappy. I will say this I think it's A Idk but if I get all the answers from 1 down to 16 I'll give it
Please someone help I have to finish school soon and I’m not close😫
I wish I knew the answer ughhh
the answer to this one is boom-and-bust, but can someone answer the others
i dont know just bored lol
you dontgb ,lokiuytrewq
does anyone have the answers to all 15/17 questions for DAD
The correct answer is B: Boom-and-Bust. The term "Boom-and-Bust" refers to an economic cycle characterized by a period of rapid economic growth, or a "boom," followed by a sharp decline, or a "bust." During the boom phase, industries experience high levels of profitability, causing a surge in economic activity. However, this growth is often unsustainable, leading to overproduction and, eventually, a decline in prices and profits. In the given scenario, the oil industry initially experienced a period of great profits when oil prices rose. However, when the oil prices fell drastically, it caused significant financial hardships for oil firms, leading to struggles to stay in business and resulting in job losses for many Texans.
