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Question
S1: There was an unemployment crisis in the 1970s.
S2: In the 1970s, MNCs started investing in developing nations of Asia.
S3: In 1960s US dollar system replaced the floating rate exchange system.
From the following statements, pick the false statement.
S1: There was an unemployment crisis in the 1970s.
S2: In the 1970s, MNCs started investing in developing nations of Asia.
S3: In 1960s US dollar system replaced the floating rate exchange system.
From the following statements, pick the false statement.
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Solution
The correct option is C S3
The industrialised countries were hit with unemployment crises starting from the mid-1970s. Multinational Corporations began to shift their operations to Asian countries like China. This shift, coupled with economic policies, set off another global economic transformation. Starting from the 1960s, the US Dollar lost the position it held previously, and a floating exchange rate system replaced a fixed exchange rate system.
The industrialised countries were hit with unemployment crises starting from the mid-1970s. Multinational Corporations began to shift their operations to Asian countries like China. This shift, coupled with economic policies, set off another global economic transformation. Starting from the 1960s, the US Dollar lost the position it held previously, and a floating exchange rate system replaced a fixed exchange rate system.
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