In the Period 1960-95

question 14

Multiple Choice

In the period 1960-95,

• A) the relations between capital and labor (owners and workers) continued to be as hostile and violent as they were in the 1930s and earlier.
• B) the relations between capital and labor (owners and workers) continued to be cooperative and peaceful, as they had been throughout U.S. history.
• C) an accord was struck which involved more cooperative relations between capital and labor and encouraged high rates of productivity in industry.
• D) the federal government intervened with a strong hand to ensure that labor and capital worked together cooperatively.

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Definitions:

Trade Deficit

The amount by which the value of a nation’s imports exceed the value of its exports.

International Payments

Transactions between countries involving the transfer of money and payments for goods and services across borders.

Merchandise Exports

Goods produced domestically and sold to buyers in another country.

Freely Floating Exchange Rates

A system where the value of currencies is determined by supply and demand in the foreign exchange market without direct intervention by central banks.