Five pounds of sugar cost 39 cents, a gallon of milk averaged 62 cents, and a dozen eggs were 59 cents. Median household income was $8,730, and Americans paid an average of $3,900 for a new car. In the year 1970, unemployment peaked at 5.9% in December, and the inflation rate was 5.72%.There were about 2,780,000 farms in the U.S., averaging about 390 acres apiece. Farmers made up 4.6% of the American labor force.American engineer Douglas Engelbart received a patent for the first computer mouse.Japan became the world’s fourth space power, after the Soviet Union (1957), the United States (1958), and France (1965).In 1970, the first Earth Day was celebrated, and the Environmental Protection Agency (EPA) began operations.Members of the Ohio National Guard fired into a crowd of students who were demonstrating at Kent State University, killing four and wounding nine.The Pan-Am flight carried 332 passengers and 18 crew members. The world’s first jumbo-jet-a Boeing 747-made its first commercial passenger trip from New York to London.President Nixon signed legislation that officially banned cigarette ads on television and radio.It resulted from efforts by the Federal Reserve to tame inflation through restrictive monetary policy, which had the expected effect of dampening economic growth. The Nixon Recession (December 1969-November 1970) was a relatively mild one.
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