The value of USD was fixed at 1 ounce gold equal to USD _____
a. 35
b. 38
c. 36
Answers
Answer:
A. 35
Explanation:
Please mark me brainlist
Introduction:
The US dollar was agreed to be the IMF and IBRD's reserve currency, and the US dollar was also tied to gold at $35 per ounce.
Explanation:
That meant that any country that wanted to could exchange their gold for US dollars at that rate. Obviously, we're not talking about swapping a few ounces here and there, but rather about determining the worth of a country's gold holdings (although a country could do this) On August 15, 1971, the US government stated that it would no longer honour requests to swap gold for dollars. Essentially, the only method to "set" the price of gold is for some organisation to agree to buy an endless amount of gold at a particular price.
Therefore, the correct answer is a.35.
#SPJ3