Which of the following resulted in the abandoning of the Bretton Woods system in the 1970s?
A) The inflation rates in the United States and other developed counties were low.
B) The United States was not running a trade deficit.
C) The dollar became inconvertible into gold.
D) Most countries wanted to return to the gold standard system.

Question

Which of the following resulted in the abandoning of the Bretton Woods system in the 1970s? 
A) The inflation rates in the United States and other developed counties were low. 
B) The United States was not running a trade deficit. 
C) The dollar became inconvertible into gold. 
D) Most countries wanted to return to the gold standard system.

Quizplus · Accepted Answer

The dollar became inconvertible into gold, meaning that other countries could no longer exchange their dollars for gold at a fixed rate. This undermined the credibility of the Bretton Woods system, as it could no longer operate as a true gold standard.

Which of the Following Resulted in the Abandoning of the Bretton