Which of the Following Statements Is False

question 110

Multiple Choice

Which of the following statements is false?

• A)The Bretton Wood System of fixed exchange rates was maintained until 1975.
• B)Under the Bretton Wood System, one ounce of gold was set equal to $35.
• C)Under the Bretton Wood System, each participating country had it currency pegged to either gold or the U.S.dollar.
• D)All of the above statements are correct.

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Definitions:

Underestimating Cost

The act of calculating or predicting a cost to be lower than it eventually turns out to be.

Personally Liable

The legal responsibility of an individual to fulfill a debt or obligation from their own assets.

Partnership Debt

Financial obligations for which all partners in a partnership are jointly and severally liable.

New Ovens

Recently manufactured or acquired cooking appliances designed for baking, heating, or drying food.