Q148
Which year the Bretton Wood agreement failed?
A.
1983
B.
1971
AnswerC.
1963
D.
1989
Answer: Option B
Solution
Answer: Option B
Solution:
The Bretton Wood agreement failed in 1971, when President Richard Nixon severed the link between the dollar and gold — a decision made to prevent a run on Fort Knox, which contained only a third of the gold bullion necessary to cover the amount of dollars in foreign hands.