Under the Bretton Woods system of fixed exchange rates, the price of the U.S.dollar was fixed in terms of gold and the prices of all other currencies were fixed in terms of dollars.

Question

Quizplus · Accepted Answer

This statement accurately describes the Bretton Woods system of fixed exchange rates. The value of the U.S. dollar was set at $35 per ounce of gold, and other countries' currencies were fixed in relation to the dollar. The system operated from 1944 to 1971.

Under the Bretton Woods System of Fixed Exchange Rates, the Price