Document Type

Thesis - Open Access

Award Date

1976

Degree Name

Master of Science (MS)

Department

Economics

Abstract

During the past three years the American economy in general and the automobile industry in particular was plagued with inflation, recession, and unemployment. With sales declining during those years, profits vanished and layoffs increased within the automobile industry. One of the factors that contributed to this problem was the Arab oil Embargo of November, 1973. In the last quarter of 1973, when the automobile industry started its prolonged decline in sales, most of the Oil Producing and Export Countries (OPEC) were redirecting the world economy for their own benefit through embargoes and price fixing on their oil. Because of the dramatic ramifications the Arab Oil Embargo had on the U.S. automobile industry, this study focuses on the changes in consumer demand for automobiles during the embargo of November, 1973, and the recession and inflationary period that follower through the first quarter of 1975. The event that took place in the automobile industry during those periods are outlined below.

Library of Congress Subject Headings

Selling -- Automobiles

Automobiles -- United States

Automobiles -- South Dakota -- Rapid City

Automobiles -- Colorado -- Denver

Format

application/pdf

Number of Pages

81

Publisher

South Dakota State University

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