Gold Standard and Bretton Woods quiz

More questions about Gold Standard and Bretton Woods

These visible examples show the question style. LearnClash turns the full topic into ranked duels and spaced repetition.

1. 1 Easy

   Who made it illegal for most Americans to hoard gold?

   Answer: Franklin D. Roosevelt

   Why: Breaking the 1933 order could bring a fine of up to $10,000, up to ten years in prison, or both.

2. 2 Medium

   Who could still turn dollars into gold under Bretton Woods?

   Answer: Foreign central banks

   Why: In 1961 eight central banks formed the London Gold Pool to hold the London market price of gold at $35 an ounce.

3. 3 Hard

   Which French politician is credited with coining 'exorbitant privilege'?

   Answer: Valéry Giscard d'Estaing

   Why: De Gaulle's own attack on the dollar's special role came at a press conference on February 4, 1965.

4. 4 Easy

   Where is the IMF headquartered?

   Answer: Washington, D.C.

   Why: Under the IMF's founding rules, its head office sits in whichever member holds the largest quota.

5. 5 Medium

   What was the official US gold price per ounce from 1934 to 1971?

   Answer: $35

   Why: Lifting the price from $20.67 to $35 handed the Treasury a windfall profit of more than $2 billion.

6. 6 Hard

   How far could a currency drift from its Bretton Woods dollar peg?

   Answer: 1%

   Why: In December 1971 the Smithsonian Agreement widened that band to 2.25% either side of par.