Menarosjeelep Menarosjeelep

04-03-2016
Social Studies

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The move from the ____________ was a factor which led to the energy crisis, because OPEC began to price a barrel of oil against gold.

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WorldlyGlass49 WorldlyGlass49

16-03-2016

The correct answer should be Global Currencies.

Instead of Oil being valued compared to various currencies, oil was priced according to prices of gold which was priced against dollar, which means that all currencies throughout the world had to be priced according to the dollar.

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