Question

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

a. gold standard
b. fluid exchange
c. global currency
d. fixed exchange

Answer 1

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

A gold standard is a monetary system whereby the standard economic unit of account is based on a fixed quantity of gold.