The post-World War II arrangements reached by the Allies at Bretton Woods steadily eroded in the late 1960s and effectively ended in 1971,when the United States:
A)refused to endorse the establishment of the World Bank.
B)defaulted on a loan it had guaranteed through the International Monetary Fund.
C)withdrew from membership in NATO following France's lead.
D)withdrew its support for the financial policies of the G-7 countries.
E)abandoned the postwar gold standard and allowed the dollar to range freely.

Question

Quizplus · Accepted Answer

The post-World War II arrangements reached by the Allies at Bretton Woods included a gold standard where the value of currencies were fixed to the value of gold. However, the United States abandoned this gold standard and allowed the dollar to range freely in 1971, effectively ending this system.

The Post-World War II Arrangements Reached by the Allies at Bretton