Suppose that after World War II, the United States and Germany agree to peg their currencies to each other under the Bretton Woods system at an exchange rate of $2.00 per mark. Suppose American demand for marks decreases, and the equilibrium dollar price of a mark falls to $1.50 per mark. Which of the following actions could the U.S. government use under Bretton Woods to help eliminate the balance-of-payments imbalance at the pegged exchange rate? Use official reserves of marks to buy dollars in the foreign-exchange market. Exchange dollars for marks in order to buy gold from Germany. Increase U.S. income taxes.

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