Which of the Following Is NOT a Reason the United

question 15

Multiple Choice

Which of the following is NOT a reason the United States taken off the gold standard in the early 1970s?

• A) The Vietnam War and the "Great Society" antipoverty programs increased U.S. budget deficits.
• B) As the "dollar overhang" grew, foreign investors and governments grew less willing to finance it.
• C) The Vietnam War undermined U.S. moral authority.
• D) Vast amounts of gold discovered in the Yukon Territory.

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Definitions:

GDP

Gross Domestic Product, the total value of all goods and services produced within a country in a given period.

Trade Deficit

A situation where a country's imports exceed its exports over a given period, leading to more money leaving the country than coming in.

Mixed Economy

An economic system combining elements of both capitalism and socialism, with some sectors privately owned and others controlled by the government.

Economy

The system by which goods and services are produced, distributed, and consumed within a particular country or region.