The Bretton Woods System Broke Down in the Early 1970s

question 39

Multiple Choice

The Bretton Woods system broke down in the early 1970s for all but one of the following reasons:

• A) deficit countries losing international reserves were not willing to devalue their currencies.
• B) surplus countries were not willing to revalue their currencies upwards.
• C) surplus countries were not willing to pursue more expansionary policies.
• D) the United States had been pursuing an inflationary monetary policy to reduce domestic unemployment.

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