A Primary Result of the Smithsonian Agreement Was

question 77

Multiple Choice

A primary result of the Smithsonian Agreement was:

• A)the establishment of the European Monetary System (EMS).
• B)establishing that exchange rates of most major countries were to be allowed to fluctuate 2.25% above or below their initially set values.
• C)establishing specific rules for when tariffs and quotas could be imposed by governments.
• D)establishing that exchange rates of most major currencies were to be allowed to fluctuate freely without boundaries (although the central banks did have the right to intervene when necessary).