Question

Mark all of the true statements below concerning the Bretton Woods system.

A. John Maynard Keynes was one of the architects of the Bretton Woods system.

B. The International Monetary Fund maintains a private golf course for its employees, called the Bretton Woods golf course. (Note: this is 100% true. Your tax dollars at work.)

C. The system ended when President Johnson, facing economic pressures due to the Vietnam war, suspended the US dollar's convertibility into gold.

D. The US dollar was the main reserve currency of the system.

Answer 1

The following are true:

1. A. John Maynard Keynes was one of the architects of the Bretton Woods system.

2. B. The International Monetary Fund maintains a private golf course for its employees, called the Bretton Woods golf course.

3. C. The system ended when President Johnson, facing economic pressures due to the Vietnam war, suspended the US dollar's convertibility into gold. [ in 1971 President Johnson accounced the end of the system]

4. The US dollar was the main reserve currency of the system. [ It replaced gold]

.

P.S. All the statements are true!