Which of the following best describes circumstances surrounding the breakdown of the Bretton Woods system?
A) The United States was enjoying a persistent trade surplus.
B) There was too much dependence on the U.S. dollar because no other country had a stable currency.
C) Germany, with its strong currency, refused to defend the U.S. dollar.
D) Speculators were betting on the fall of the U.S. dollar.
Correct Answer:
Verified
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