The effect of the lowering in value of the US dollar during

Question

The effect of the lowering in value of the U.S. dollar during Richard Nixons first term was

a. positive, because U.S. exports increased.

b. negative, because numerous treaties were being used to determine currency values around the world.

c. positive, because China exported cheap products to the United States.

d. negative, because the world economy became unstable.

e. neither positive nor negative; nothing changed with the economy.

ANS: D TOP: The End of the Golden Age

DIF: Moderate REF: Full p. 1026 | Seagull p. 1044

MSC: Understanding OBJ: 3. Examine the ways in which the opportunities of most Americans diminished in the 1970s.

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