Which of the following statements about currency exchange rates is FALSE? Group of answer choices Currencies today generally do not have a fixed value in relation to any precious metal or other commodity, but are determined by market forces, although governments can influence the exchange rate by buying and selling their own currencies. President Roosevelt took the United States off the gold standard so that the value of the dollar would fall. President Nixon took the United States off the gold standard under the Bretton Woods system because U.S. spending on military bases abroad and the Vietnam war as well as the U.S. trade deficit were draining the United States of gold. When the value of the dollar rises in relation to other currencies (i.e., the dollar becomes "stronger"), the likely result is that exports will rise, imports will fall, and jobs will be created in America.

Which of the following statements about currency exchange rates is FALSE? Group of answer choices Currencies today generally do not have a fixed value in relation to any precious metal or other commodity, but are determined by market forces, although governments can influence the exchange rate by buying and selling their own currencies. President Roosevelt took the United States off the gold standard so that the value of the dollar would fall. President Nixon took the United States off the gold standard under the Bretton Woods system because U.S. spending on military bases abroad and the Vietnam war as well as the U.S. trade deficit were draining the United States of gold. When the value of the dollar rises in relation to other currencies (i.e., the dollar becomes "stronger"), the likely result is that exports will rise, imports will fall, and jobs will be created in America.