Under the Bretton Woods system
A)each country established a par value for its currency in relation to the dollar.
B)the U.S.dollar was pegged to gold at $35 per ounce.
C)each country was responsible for maintaining its exchange rate within 1 percent of the adopted par value by buying or selling foreign exchanges as necessary.
D)all of the options

Question

Quizplus · Accepted Answer

Under the Bretton Woods system, each country established a par value for its currency in relation to the dollar (option A). The U.S. dollar was pegged to gold at $35 per ounce (option B). Each country was responsible for maintaining its exchange rate within 1 percent of the adopted par value by buying or selling foreign exchanges as necessary (option C). Therefore, all the options are correct.

Under the Bretton Woods System