One consequence of the record-high deficits and high interest rates of the 1980s was
A) lower energy costs.
B) growing productivity in manufacturing.
C) a soaring value for the dollar.
D) a general demand to raise taxes.
E) new capital investment.

Question

Quizplus · Accepted Answer

The record-high deficits and high interest rates of the 1980s led to a soaring value for the dollar, as high interest rates attracted foreign investment, increasing demand for the dollar.

One Consequence of the Record-High Deficits and High Interest Rates