President Nixon's action to end the gold standard

A. created a budget deficit.

B. meant gold was no longer valuable.

C. meant the value of the dollar changed.

D. ended the US economic downturn.

Question

History

Markus Pearson

18 January, 01:34

President Nixon's action to end the gold standard

A. created a budget deficit.

B. meant gold was no longer valuable.

C. meant the value of the dollar changed.

D. ended the US economic downturn.

+3

Answers (2)

Know the Answer?

Nolan Martinez · Answer 1

meant the value of the dollar that changed

Hayden Flores · Answer 2

C. meant the value of the dollar changed.

Explanation:

President Richard Nixon took action in 1971 to end the convertibility of the dollar into gold and implement the price control system which is intended to deal with the international problem of hovering gold run and domestic economic problem of inflation.

This new economic policy marks the end of the old Bretton woods international monetary system and put a halt on inflation.

President Nixon's action to end the gold standardA. created a budget deficit.B. meant gold was no longer valuable.C. meant the value of the dollar changed.D. ended the US economic downturn.

President Nixon's action to end the gold standard

A. created a budget deficit.

B. meant gold was no longer valuable.

C. meant the value of the dollar changed.

D. ended the US economic downturn.