Word: impacted
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Dates: during 1970-1979
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Schultze's deep interest in the impact of Government policies on the economy began during his undergraduate days at Georgetown University. After earning his bachelor's degree in 1948, he spent most of the next 20 years in various Government jobs, studying economics part time at Georgetown and the University of Maryland (Ph.D., 1960). During a brief stint as an associate professor at Indiana University in 1959-61, he originated the concept that the economic impact of the federal budget is best gauged by what the surplus or deficit would be if the economy were operating...
Another problem is posed by the impact of West Germany on East. Millions of West Germans visit East Germany each year, and about 70% of East Germans can receive West German television. Laments a senior East German official: "We have found it's no good telling people they're better off than the Bulgarians or letting them take vacations in Czechoslovakia. They compare their life-style to what they see on Western television and want to travel to Italy, Spain or France...
Thus did Secretary of Transportation William T. Coleman Jr. explain an odd-sounding ruling last week. He admitted that air bags-which inflate instantly upon impact of a collision, keeping the driver and front-seat riders from being hurled against the dashboard or windshield-might save an estimated 12,000 lives a year if installed on all U.S.-made cars. Nonetheless, he refused to order such universal installation. Instead, Coleman asked the car companies to outfit 500,000 cars with air bags during the next two model years, in what would amount to a mass test...
...such as occur when a car hits a tree or light pole-but most head-on collisions between two cars are much more violent. Air bags are not effective in side swipes, back-end collisions, or multiple jolts (they deflate in a fraction of a second after the initial impact...
...about 20 per gal. to the price of gasoline and other fuels. That would put a further drag on the already sluggish U.S. recovery, since an oil price hike, like a tax increase, reduces the amount of money consumers and businessmen have available to spend on other things. The impact of an OPEC boost will be muffled by the fact that the U.S. produces almost 60% of its oil, and most domestic oil is still under price controls...