Under the Bretton Woods System

question 10

Multiple Choice

Under the Bretton Woods system,

• A) there was an explicit set of rules about the conduct of international trade policies
• B) each country was responsible for maintaining its exchange rate within 2.50 percent of the adopted par value by buying or selling foreign exchanges as necessary
• C) the U.K. sterling pound was the only currency that was fully convertible to gold
• D) each country established a par value in relation to the U.S. dollar, which was pegged to gold at $35 per ounce.