President Nixon had to suspend gold conversion and effectively eliminate the fixed exchange rates of the Bretton Woods system because:
A) he wanted the gold for himself
B) the United States had no gold
C) there had been an excessive drain of United States gold reserves
D) Nixon was confused about international economics
E) the world was moving toward a silver standard
Correct Answer:
Verified
Q12: Other things being equal, an increase in
Q13: The balance on the current account reports
Q14: The rise to prominence of the use
Q15: A system of flexible exchange rates can
Q16: The relatively fixed exchange rates of the
Q18: In a system of flexible exchange rates,
Q19: The financial account of the balance of
Q20: When the United States experiences a trade
Q21: The balance on the current account:
A) has
Q22: Flexible exchange rates mean that:
A) currency exchange
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