Word: true
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Dates: during 1970-1979
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...ambition; he sends for Iphigenia with a note explaining that she is to come to Aulis to marry the young king Achilles (who is ignorant of his role in the plan). Iphigenia arrives with her mother, Clytemnestra, but it is not long before she discovers what her true function is to be. A tortured Agamemnon and sorrowful Menelaus can do nothing to stop what has been started; Calchas informs the army of his prophecy, and the soldiers cry out for Iphigenia's death. Achilles, angered by the use of his name to lure the girl from her home, and moved...
Evangelical visibility [Dec. 26] is due in part to the failure of the liberal establishment to do anything except follow the line of retreat, retrenchment and unconcern for the true Gospel. But the Evangelicals have not arrived. The movement has only reached a point where, if it does not assault and change the sources of power in America, it will decline. I refer to the mainline denominations, the liberal theological seminaries, the large secularized universities, the business world, the media and other powerful organizations that still go their old ways without repentance or significant alteration...
...their exports more expensive. Since their efforts were ineffective, they pleaded with Washington to join in. U.S. officials, led by Treasury Secretary W. Michael Blumenthal, steadfastly refused. So long as the dollar's decline was orderly, they argued, money markets were better equipped than governments to determine its true value. Blumenthal gave many western Europeans the impression that the U.S. actually wanted the dollar to go down, partly because that supposedly helps American exports...
Should the U.S. care? Emphatically yes. It is true that monetary gyrations hurt the U.S. less than other nations who are far more dependent on foreign trade. But the dollar's decline injures America's foreign relations by angering friendly countries that fear the effects of a rise in their own currencies on the exports that are all-important to them. The dollar slide could accelerate world inflation: when other countries act to keep their own currencies from rising against the dollar, their moves, for complex technical reasons, increase the money supply in these countries -an inflationary force...
...that the U.S. sells abroad are "price inelastic"; sales do not necessarily go up when the price goes down. The U.S. is a major exporter of commercial jet aircraft and computers. But overseas customers buy them on the basis of quality and need, not price. Much the same is true of another major U.S. export, agricultural goods. The quantity of wheat that American farmers sell to Japan or the Soviet Union depends less on price than on the state of harvests around the world. U.S. exports of machinery and consumer goods do benefit from lower prices -but their prices were...