Under the initial Bretton Woods system,
a. foreign currencies could be converted into U.S. dollars, which could be redeemed for gold at a rate determined by supply and demand
b. foreign currencies could be converted into U.S. dollars, which could be redeemed for gold at a rate of $35 per ounce
c. foreign currencies could be converted into gold at a rate determined by supply and demand
d. foreign currencies could be converted into gold at a rate of $35 per ounce
e. gold was the international medium of exchange
B
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The Lorenz curve graphs the
A) cumulative percentage of spending against the cumulative percentage of households. B) marginal percentage of income against the marginal percentage of households. C) cumulative percentage of income against the cumulative percentage of households. D) cumulative percentage of spending against the marginal percentage of households.
An increase in the unemployment rate may be represented as a movement from a point on the production possibilities frontier to a point inside the frontier
Indicate whether the statement is true or false