"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:
Prior to its independence, Texas was governed as a part of Mexico under the Mexican Constitution of 1824. Established as a federal republic, each state could write its own constitution. Combined as a single state, Texas and Coahuila established a constitution in 1827. Under this constitution, legislative power was delegated to a unicameral legislature composed of twelve deputies, including two elected from Texas by popular vote. The legislature met annually from January through April and could be called into special session. Executive power was vested in a governor and vice-governor, elected to four-year terms by popular vote. The governor could recommend legislation, grant pardons, lead the state militia, and see that the laws were obeyed. Judicial authority was vested in state courts that oversaw minor criminal trials and civil cases. The courts could not interpret the law, and misdemeanor cases were tried by a judge without a jury. Texans ignored two provisions, one that required Catholicism as the state religion and the other that did not recognize slavery
Explanation:
A system of government intervention to promote national prosperity and to increase the power of the country is called m<span>ercantilism.</span>
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Answer:
Why was the Boston Tea Party an important step in the sequence of events leading to the colonies declaring independence (freedom)?
How did the Boston Tea Party and the passing of the Intolerable Acts lead to colonists declaring independence (wanting freedom) from Great Britain?
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