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Question 23 of 25
What was one result of the Bretton Woods system?
A. Many countries adopted the gold standard for the first time.
B. Many countries fixed the value of their currency to the U.S. dollar.
C. Many countries decided that only gold could be used as currency.
D. Many countries gave up their own currency in favor of the U.S.
dollar.
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Answer :

GinnyAnswer

Final answer:

The Bretton Woods system led to many countries fixing their currency to the U.S. dollar, establishing it as the world's reserve currency.


Explanation:

The Bretton Woods system, established after World War II, had a significant impact on global exchange rates. One result of the Bretton Woods system was that many countries fixed the value of their currency to the U.S. dollar, making the dollar the world's reserve currency. This helped maintain stability in the international financial system.


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