Which of the following was an announcement made by U.S. President Nixo

QUESTION

Which of the following was an announcement made by U.S. President Nixon to enable the devaluation of the dollar during the increase in inflation in 1971 in the United States?

A. The IMF member countries would adopt the gold standard to fix exchange rates.

B. The United States would no longer support the World Bank.

C. A new 15 percent tax would be charged on U.S. exports.

D. The dollar would no longer be convertible into gold.

E. German deutsche marks would be the new reference currency.

ANSWER

D