Why Was the US Dollar Chosen as the Currency to Which

question 6

Multiple Choice

Why was the US dollar chosen as the currency to which other currencies would be pegged?

• A) The US had high levels of productivity.
• B) The US was experiencing a large trade surplus.
• C) The US contributed approximately 70% of the global GDP.
• D) All of these answers

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Definitions:

Validity

Validity refers to the degree to which a test or measurement accurately reflects or assesses the intended specific concept or attribute.

Reliability

The extent to which a measurement is free from random error.

Acceptability

The degree to which a concept, action, or thing is regarded as suitable or satisfactory by a group or society.

Specificity

The degree to which something is precise, detailed, or strictly defined.