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Question Answered step-by-step Give explanation Image transcription textThe most serious consequence of the 1970s oil shock for America was the collapse of several Arab states thatwere friendly to the U.S. the loss of international respect for Americans. O rampant inflation. The beginning ofthe mass exodus from American suburbs. the decline of the automobile culture in the United States…. Show more  Give explanation Business Economics Share QuestionEmailCopy link Comments (0)