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The Bretton Woods monetary arrangement was referred to as the gold exchange standard because: a. It replaced the British Pound and has been based on
The Bretton Woods monetary arrangement was referred to as "the gold exchange standard because: a. It replaced the British Pound and has been based on a silver standard b. All central banks exchanged their entire foreign reserves for gold to become member of the Bretton Woods monetary arrangement c. Gold was the fundamental standard of value based on the ability of the US to convert any amount of dollar to gold at a fixed price d. All trade of good and services were settled in gold
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