In 1971, in an effort to stimulate the American economy, Richard Nixon took which of the following steps?

Question

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Nixon devalued the U.S. currency, meaning he reduced the value of the U.S. dollar in relation to other currencies. This made American goods cheaper for foreign buyers, which was intended to boost U.S. exports and stimulate the economy. Nixon did not lower the national minimum wage, and allowing the U.S. to default on its foreign debts would have caused severe economic consequences.

In 1971, in an Effort to Stimulate the American Economy