During the breakdown of the Bretton Woods system in the early 1970s, what action did the U.S. President take that contributed to the end of the fixed exchange rate system?
a. Establishing a gold standard
b. Imposing capital controls
c. Decoupling the U.S. dollar from gold
d. Devaluing the U.S. dollar

Question

During the breakdown of the Bretton Woods system in the early 1970s, what action did the U.S. President take that contributed to the end of the fixed exchange rate system?
a. Establishing a gold standard
b. Imposing capital controls
c. Decoupling the U.S. dollar from gold
d. Devaluing the U.S. dollar

Accepted Answer

***C*** ∻Key Concept∻ ⚹Nixon Shock⚹ ∻Explanation∻ ⚹In 1971, U.S. President Richard Nixon announced measures that effectively ended the Bretton Woods system of fixed exchange rates, including the suspension of the convertibility of the U.S. dollar into gold, an action known as the Nixon◊What were the primary implications of the U.S. decision to decouple the U.S. dollar from gold during the breakdown of the Bretton Woods system in the early 1970s?⍭ Generate me a similar question◊⚹

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