_________________________ was an international monetary system in which the U.S. dollar was valued in gold and other exchange rates were pegged to the dollar.

Question

Quizplus · Accepted Answer

The Bretton Woods System was established in 1944 and was a fixed exchange rate system in which the U.S. dollar was valued in gold at a rate of $35 per ounce. Other countries agreed to peg their currency exchange rates to the U.S. dollar. However, the system collapsed in 1971 when the U.S. could no longer maintain the exchange rate due to inflation and increased government spending.

_________________________ Was an International Monetary System in Which the U