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Inflation reaches 6.1 percent, the highest rate since the Korean War
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The first major postal workers' strike begins in American history and ends after seven days.
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The federal government mandates the use of unleaded gasoline in federal vehicles.
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The federal government announces that unemployment has risen to 5.8 percent. In response, they reduce interest rates.
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Time magazine reaches an agreement regarding job discrimination with 140 female employees.
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Time magazine reaches an agreement regarding job discrimination with 140 female employees.
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The U.S. Supreme Court prohibits employers from using job tests that discriminate against African Americans.
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President Richard M. Nixon ends a twenty-year trade embargo against Communist China.
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The company needed space that they lacked in California, so they bought 28,000 acres of land in Orlando, FL.
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President Richard M. Nixon signs a $25-billion tax cut.
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U.S. federal court lifts an April 1970 injunction banning the construction of the Trans-Alaska Pipeline.
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Richard Nixon (Republican) defeated George McGovern (Democrat)
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PepsiCo announces a deal to sell its products in the Soviet Union.
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The Nixon administration ends mandatory wage and price controls, except in the food, construction, and healthcare industries.
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A court order directs Delta Air Lines to open more positions to women and African Americans.
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Following the beginning of the war between Israel and several Arab states, the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo.
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To conserve gasoline and improve safety, the U.S. Congress orders states to reduce interstate highway speed limits to 55 miles per hour.
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OPEC members, except for Lybia and Siberia, end their oil embargo of the West.
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President Richard M. Nixon's authority to impose wage and price controls on the American economy ends with the expiration of the 1970 Economic Wage Stabilization Act.
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President Ford denied it but Federal Reserve Chairman Arthur Burns states a recession has begun.
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The federal government reports January unemployment at 8.2 percent, the highest level since 1941.
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The U.S.'s involvement in the war ended after about 20 years. The last members of the American Military escaped in a helicopter.
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Jimmy Carter defeated Gerald Ford
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Over 175 U.S. companies admitted to offering over $300 million in bribes since 1970.
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300 American Airlines female flight attendants, fired for becoming pregnant between 1965 and 1970, receive a $2.7-million civil rights settlement.
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110-day coal miners' strike, the longest in U.S. history, ends with the signing of a new three-year contract.
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The Chrysler Corporation, the third-largest automaker in the United States, requests a $1-billion federal loan to prevent bankruptcy. On November 1, the federal government guarantees a $1.5-billion loan to Chrysler.
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One of the causes was the Iranian Revolution of 1979. This was one of the most significant recessions since the Great Depression