"The second “decline” of the U.S. economy took place in the 1970s and 80s. America’s international economic position fell markedly by the end of the 1960s and beginning of the 1970s. In 1970, the export trade of the six countries of the European Community accounted for 27.6% of the world total, more than doubling that of the United States (13.7%). The figure for Japan was 6.2%. In 1971, the United States suffered from a trade deficit, though the amount was small ($2.2 billion). Shortly, it rose to $6.8 billion in 1972, and since then, it occurred almost every year, which was totally different from what was before the 1970s. The case for Japan was just the opposite. Not only Japan experienced fast increase of its export trade but it also earned a surplus of $300 million in 1965 for the first time since the end of World War II. Its surplus increased annually to reach $5.17 billion in 1972, almost as much as the deficit ($6.8 billion) suffered by the United States in the same year. As regards the world gold reserve, the United States accounted for 29.9% of the total in 1970, which was much less than the European Community (36.9%). The position of the US dollar, though remaining the world’s principal reserve currency and settlement currency, had been clearly weakened, and that of the Deutsche mark and Japanese yen markedly risen. The “dollar shortage” in the initial years after World War II gradually became “dollar oversupply”. This eventually led to the dollar crisis in the early 1970s. In 1971, the United States suspended the exchange of US dollars for gold, and various countries began to implement the floating exchange rate system. The Bretton Woods system centered on gold thus collapsed. This was an important symbol for America’s “decline”."
Answer:
Human capital like machines can be improved to increase production(GDP).
Explanation:
Human capital is all the creative skills and knowledge embodied in the individual participant of the economy(households), it is basically the know how of the people.
technological improvement means that machines are going to be more efficient and production will rise in general, Human capital like machines can be improved to increase production(GDP).
Most developing countries are packed with uneducated people and this reduce the growth level of growth.
When people become skillful(educated) they tend to produce more, by definition GDP is the amount of production produced within the borders of the country.
Increase in production = GDP increase.
The balance of free states to slave states is
Herbert Hoover president’s immigration policies were controversial because they turned away refugees fleeing persecution by the nazis.
<h3>What is
immigration?</h3>
The international movement of people to a destination country where they are not natives or do not have citizenship in order to settle as permanent residents or naturalized citizens is known as immigration.
The United States of America is renowned as the world's melting pot, and each year on October 28th, National Immigrants Day reminds us how unique that distinction is among the world's 195 sovereign states.
Immigration can provide significant economic benefits, such as a more flexible labor market, a larger skill base, increased demand, and greater diversity in creativity. However, immigration is a contentious issue. It is stated that immigration causes overcrowding, congestion, and additional strain on public services.
To know more about immigration follow the link:
brainly.com/question/25254146
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