1980s Economics

By asteb27

  • Embargo on U.S.S.R

    Jimmy Carter creates an embargo on grain and certain technology in response to the Soviet invasion of Afghanistan

  • IMB-PC Released

    The first personal computer is realeased - the IBM 5150. It retailed for $1,565

  • AT&T Monopoly Broken Up

    AT&T settles with the Department of Justice and agrees to split into a multitude of regional companies

  • Unemployment Hits New High

    Unemployment hits 10.4%, the highest since 1940. Over 11 million people are unemployed.

  • Black Monday

    Stock Marget crashes an astounding 22.6% in one day. The day will later be refered to as Black Monday

  • Strongest US Economy in Years

    Labor Department reports a growth rate of 3.8%, the largest in 4 years, and an unemployment rate of 5.3%, the lowest in 14 years

  • GE buys RCA

    General Electric buys RCA corporation for $6.28 billion. It was the largest merger in history at the time outside the oil indusdry

  • Exxon Oil Spill

    The Exxon Valdez crashed into Bligh Reef in Alaska, causing an oil spill of 11 million gallons that spread 45 miles. It was the largest oil spill in United States history at the time