Multiple Choice
The speculative attack on the British pound in 1967 succeeded because
A) the pound was seriously undervalued relative to the dollar.
B) Britain decided to drop out of the Bretton Woods system.
C) British exports greatly exceeded British imports, causing a large inflow of gold.
D) the Bank of England lacked the international reserves to defend the existing exchange rate indefinitely.
Correct Answer:
Verified
Correct Answer:
Verified
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