Chap002 12 - 44. In the years leading to the collapse of...

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44. In the years leading to the collapse of the Bretton Woods system A. it became clear that the dollar was undervalued. B. it became clear that the dollar was overvalued. 45. Under the Bretton Woods system A. each country established a par value for its currency in relation to the dollar. B. the U.S. dollar was pegged to gold at $35 per ounce. C. each country was responsible for maintaining its exchange rate within 1 percent of the adopted par value by buying or selling foreign exchanges as necessary. D. all of the above 46. Special Drawing Rights (SDR) are A. an artificial international reserve allotted to the members of the International Monetary Fund (IMF), who can then use it for transactions among themselves or with the IMF.
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