The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-The focal point of the Bretton Woods system was the:
A)Great Britain pound.
B)institution of special drawing rights.
C)U.S. dollar.
D)gold reserve.
E)management of commodity money.

Question

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4
 
-The focal point of the Bretton Woods system was the:
A)Great Britain pound. 
B)institution of special drawing rights. 
C)U.S. dollar. 
D)gold reserve. 
E)management of commodity money.

Quizplus · Accepted Answer

The Bretton Woods system centered around the U.S. dollar, which was pegged to gold at a fixed rate of $35 per ounce. Other countries pegged their currencies to the dollar, effectively making the dollar the key currency of the global monetary system.

The Figure Below Shows the Demand (D) and Supply (S)