Which of the Following Statements Is False

Multiple Choice

Which of the following statements is false?

A) The Bretton Woods system is the most recent example of a fixed exchange rate system.
B) Under the gold standard system,each country agreed to buy or sell gold in exchange for currency at a fixed exchange rate.
C) Under the Bretton Woods system,the values of various currencies were fixed in terms of the U.S.dollar,which was set at $35 per ounce of gold.
D) The recession in the U.S.economy was the main reason for the breakdown of the Bretton Woods system in the early 1970s.