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Question
president nixons action to end the gold standard
created a budget deficit.
meant gold was no longer valuable.
meant the value of the dollar changed.
ended the us economic downturn.
In 1971, Nixon ended the gold standard, which tied the U.S. dollar's value to a fixed amount of gold. Removing this link meant the dollar's value would now float based on market forces, so its value changed. A budget deficit was not directly caused by this action; gold still held intrinsic value; and the action did not immediately end the U.S. economic downturn.
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meant the value of the dollar changed.