In terms of exchange rates, what was the initial purpose of the Bretton Woods system?
A) Foreign currencies could be converted into U.S. dollars, which could be redeemed for gold at a rate determined by supply and demand.
B) Foreign currencies could be converted into U.S. dollars, which could be redeemed for gold at a rate of $35 per ounce.
C) Foreign currencies could be converted into gold at a rate determined by supply and demand.
D) Foreign currencies could be converted into gold at a rate of $35 per ounce.
Correct Answer:
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