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Question 1 of 10
Why did the United States finally abandon the gold standard in the 1970s?
A. Most other countries adopted the gold standard.
B. Currencies from other countries become stronger.
C. Investors refused to accept U.S. fiat currency.
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D. Large quantities of dollars were being redeemed for gold.

Respuesta :

Answer:

D Large quantities of dollars were being redeemed for gold.

Explanation:

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Parrain

The reason why the U.S. finally stopped using the gold standard in the 1970s was D. Large quantities of dollars were being redeemed for gold.

Why did U.S. decide to stop using the Gold Standard?

The Gold Standard meant that the U.S. dollar was backed by the market price of gold.

This meant that when the price of gold rose in the 1970s, the U.S. dollar was able to be used in large quantities as redemption for gold which was expensive to the nation.

Find out more on the Gold Standard at https://brainly.com/question/1543495.

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