Answer:
c. put wage and price controls in place ended the gold standard and increased federal spending
Explanation:
Following the Kennedy-Johnson organization in the United States, there was a gigantic exertion to deal with the commercial center, to some extent by controlling wages. This action was not the handicraft of left-wing dissidents but rather of the organization of Richard Nixon, a decently moderate Republican who was a commentator of government intervention in the economy.
As a young fellow amid World War II, preceding joining the naval force, Nixon had filled in as a lesser lawyer in the tire-apportioning division of the Office of Price Administration, an encounter that left him with a lasting distaste for price controls.
The cost of gold had been fixed at $35 an ounce since the Roosevelt organization. Be that as it may, the developing U.S. balance-of-installments shortage implied that remote governments were gathering a lot of dollars - in total volume far surpassing the U.S. government's supply of gold. These legislatures, or their national banks, could appear whenever at the "gold window" of the U.S. Treasury and demand exchanging their dollars for gold, which would accelerate a run. The issue was not hypothetical. In the second seven day stretch of August 1971, the British envoy turned up at the Treasury Department to demand that $3 billion be changed over into gold.
