Which was a consequence of the US ending the post-World War II quasi-gold standard in the early 1970s? A. The GATT was replaced with the WTO. B. The World Bank stopped issuing loans to developing countries. C. Developing countries embraced austerity. D. It ushered in the end of fixed exchange rates and the start of floating exchange rates.
Which was a consequence of the US ending the post-World War II quasi-gold standard in the early 1970s? A. The GATT was replaced with the WTO. B. The World Bank stopped issuing loans to developing countries. C. Developing countries embraced austerity. D. It ushered in the end of fixed exchange rates and the start of floating exchange rates.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Which was a consequence of the US ending the post-World War II quasi-gold standard in the early 1970s?
A. The GATT was replaced with the WTO.
B. The World Bank stopped issuing loans to developing countries.
C. Developing countries embraced austerity.
D. It ushered in the end of fixed exchange rates and the start of floating exchange rates.
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