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Chap002 38 - adopted par value by buying or selling foreign...

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37. The Triffin paradox A. was first proposed by Professor Robert Triffin. B. warned that the gold-exchange system of the Bretton Woods agreement was programmed to collapse in the long run. C. was indeed responsible for the eventual collapse of the dollar-based gold-exchange system in the early 1970s. D. all of the above are correct Topic: Bretton Woods System: 1945-1972 Topic: Evolution of the International Monetary System 38. Under the Bretton Woods system
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Unformatted text preview: adopted par value by buying or selling foreign exchanges as necessary. C. the U.S. dollar was the only currency that was fully convertible to gold. D. all of the above Topic: Bretton Woods System: 1945-1972 Topic: Evolution of the International Monetary System 39. Under the Bretton Woods system each country established a par value for its currency in relation to the dollar. And the U.S. dollar was pegged to gold at A. $1 per ounce. B. $35 per ounce. C. $350 per ounce. D. $900 per ounce. Topic: Bretton Woods System: 1945-1972 Topic: Evolution of the International Monetary System...
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