The deterioration of the US external position in the early 1970s led to the:
A) end of the Vietnam War
B) resignation of President Nixon
C) collapse of the Bretton Woods system
D) intensification of the Cold War

Question

Quizplus · Accepted Answer

The deterioration of the US external position in the early 1970s, marked by persistent balance of payments deficits and the loss of confidence in the US dollar, directly contributed to the collapse of the Bretton Woods system in 1971 when President Nixon suspended the dollar's convertibility into gold. This effectively ended the fixed exchange rate regime established post-World War II.

The Deterioration of the US External Position in the Early