Which of the Following Statements Is False

question 71

Multiple Choice

Which of the following statements is false?

• A)The Bretton Woods system is the most recent example of a fixed exchange rate system.
• B)Under the gold standard system,each country agreed to buy or sell gold in exchange for currency at a fixed exchange rate.
• C)Under the Bretton Woods system,the values of various currencies were fixed in terms of the U.S.dollar,which was set at $35 per ounce of gold.
• D)The recession in the U.S.economy was the main reason for the breakdown of the Bretton Woods system in the early 1970s.

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Definitions:

Predictability

The characteristic of a process, principle, or system that enables it to be known or declared in advance, especially through the application of scientific or logical techniques.

Probability

A measure of the likelihood that an event will occur, often quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Liberty

The state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

State

An organized political community living under a government; can also refer to the condition or mode of being.