In the Early Part of the Twentieth Century, Nearly All

Multiple Choice

In the early part of the twentieth century, nearly all currencies

A) were backed by gold.
B) were held together by a system of fixed exchange rates in which the value of those currencies was set in relation to the British pound.
C) were held together by a system of fixed exchange rates in which the value of those currencies was set in relation to the U.S. dollar.
D) were held together by a system of flexible exchange rates in which the value of those currencies fluctuated in response to the relative supply of and demand for them.