What was the result of the U.S. change away from a policy of dollar convertibility?
A) States are forced to closely monitor their fiscal and monetary policies to avoid balance of payment deficits and inflation.
B) Total debt levels decreased.
C) Inflation increased throughout Global North countries.
D) Currency exchanges to a system of floating exchange rates.

Question

Quizplus · Accepted Answer

The U.S. change away from a policy of dollar convertibility resulted in currency exchanges moving to a system of floating exchange rates. This meant that exchange rates were determined by the market forces of supply and demand, instead of being fixed to the value of the U.S. dollar.

What Was the Result of the U