Economics · International Financial Systems
Consider the following statements regarding the Bretton Woods monetary system and the events leading to its dissolution: A. The Bretton Woods system operated as a fixed but adjustable exchange rate regime where the US Dollar was pegged to gold at a fixed rate of USD 35 per ounce. B. The 1971 'Nixon Shock' refers to the United States' decision to suspend the convertibility of the dollar into gold, which collapsed the fixed exchange rate system and led to the modern managed floating rate regime. Which of the above statements is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A only
- 2B only
- 3Both A and B✓
- 4Neither A nor B
Correct answer
Both A and B
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