Which of the Following Observations Is True of the Bretton

Multiple Choice

Which of the following observations is true of the Bretton Woods agreement?

A) All countries participating were required to exchange their currencies for gold.
B) Devaluation was accepted as a tool of competitive trade policy.
C) All participating countries agreed to try to maintain the value of their currencies within 10 percent of the par value by buying or selling currencies as needed.
D) Devaluation of up to 10 percent would be allowed without any formal approval by the IMF.