ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Nixon Shock effectively led to the end of the Bretton Woods Agreement and the convertibility of U.S. dollars into gold. The Nixon Shock was the catalyst for the stagflation of the 1970s as the U.S. dollar devalued.

Detailed explanation-2: -Which was among President Nixon’s original proposals to help the US economy? put wage and price controls in place, ended the gold standard, and increased federal spending.

Detailed explanation-3: -Nixon signed the Paris Peace Accords in 1973, ending U.S. involvement in the Vietnam War. In 1969, Nixon announced a groundbreaking foreign policy doctrine that called for the United States to act within its national interest and keep all existing treaty commitments with its allies.

Detailed explanation-4: -His five years in the White House saw reduction of U.S. involvement in the Vietnam War, détente with the Soviet Union and China, the first manned Moon landings, and the establishment of the Environmental Protection Agency and Occupational Safety and Health Administration.