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Whitepunk [10]
3 years ago
11

To help the combat the ailing economy in the early 70s, president Nixon took the US off the standard

Social Studies
1 answer:
mojhsa [17]3 years ago
6 0
GOLD STANDARD thereby changing US dollars into a fiat based currency (In God We Trust ;) Oh, then he printered boat loads of dollar bills thinking more $ will equate to more tax revenue (supply side system) BUT then the Phillips & Laffer curves were blown apart proving - Yes Mr. President, Inflation and High Unemployment CAN both exist at the same time.
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