contestada

What was a major effect of the U.S. dollar becoming a substitute for gold in
international currency markets?
A. The world suffered the worst economic crisis since the Great
Depression.
B. Growing demand for U.S. dollars led the country to abandon the
gold standard
C. The U.S. dollar quickly lost its value and was replaced by other
foreign currencies.
D. Standards of living rose substantially in most European developing
countries.

Respuesta :

Answer: growing demands for US dollars led the country to abandon the gold standard

Explanation: A P E X

Martebi

The major effect of the U.S. dollar becoming a substitute for gold in

international currency markets is because of the growing demand for U.S. dollars led the country to abandon the

gold standard.

  • The U.S. dollar was known to be the official reserve currency of the world in 1944.

The decision came about by a delegation from 44 Allied countries called the Bretton Woods Agreement.

The gold standard is known as a monetary system where a country's currency or paper money has a value when connected to gold.

The U.S. had to allow foreign governments to exchange dollars for gold until 1971, when President Richard Nixon ended the practice to stop foreigners from pipping U.S. gold reserves.

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