Question 1 In response to the weakening of its economy as the Bretton Woods Agreement was...
Question 1
In response to the weakening of its economy as the Bretton Woods Agreement was breaking down and new approaches to stabilization of currency values was taking place, the United States:
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announced that it would no longer convert the USD to gold and it imposed a tax on imports. |
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experimented with trying to have its currency float so that the currency markets would determine its value. |
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sought to acquire more gold to reinforce the stability of its economy. |
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sought to sell its gold reserves since gold was selling on the international markets at more than USD 35 per ounce. |
Homework Answers
The United States:
announced that it would no longer convert the USD to gold and it imposed a tax on imports
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