The Text Authors Contend That Richard Nixon Brought to the Presidency

question 83

Essay

The text authors contend that Richard Nixon brought to the presidency "one hugely valuable asset-his broad knowledge and thoughtful expertise in foreign affairs." Do you agree? Cite several aspects of American foreign policy between 1969 and 1974 that demonstrate President Nixon's expertise.

---

Definitions:

Labor Supply

The total hours that workers in an economy are willing to work at a given real wage rate.

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivors' benefits.

Labor

The human effort, both physical and mental, used in the production of goods and services, considered one of the main factors of production.

Deadweight Loss

A loss in total societal welfare that occurs when market equilibrium is not achieved or when market imperfections exist, leading to inefficient allocation of resources.