1. Home
  2. / George Shultz
  3. / What initiative did Shultz support as a means to revive the ailing economy during his time as Secretary of the Treasury?

What initiative did Shultz support as a means to revive the ailing economy during his time as Secretary of the Treasury?

  • New Deal

  • Fair Deal

  • Nixon shock

  • Tax Revision Act

Answer

The "Nixon shock" refers to a series of economic measures undertaken by the Nixon administration in 1971. These measures included the devaluation of the U.S. dollar relative to gold, the imposition of a temporary 10% import surcharge, and the freezing of wages and prices. The goal of these measures was to address the United States' deteriorating economic situation, characterized by high inflation and trade deficits.
The Legacy of George Shultz: A Dive into American Political History

The Legacy of George Shultz: A Dive into American Political History

Take the George Shultz Quiz
Subscribe newsletter

Subscribe Now!

Learn something
new everyday

Playing quizzes is free! We send 1 quiz every week to your inbox