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1. In 1971 President Nixon unilaterally suspended the fixed rate between dollar and gold, and effectively moved the US from a fixed rate system to

1. In 1971 President Nixon unilaterally suspended the fixed rate between dollar and gold, and effectively moved the US from a fixed rate system to a flexible exchange regime. What do you think was the impact of this move on the US economy? Why did the president take such a drastic action?

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