The dollar is one of the most recognizable currencies in the world, renowned for its widespread use and influence. However, its origins trace back to Europe, where the term "dollar" evolved from the word "thaler," a silver coin first minted in the 16th century in the Bohemian region of Joachim’s. These coins became a reliable standard of trade across Europe due to their consistent silver content and quality. When European settlers journeyed to the Americas, they brought the concept of the "dollar" with them, setting the stage for its adoption in the New World.
In 1792, the United States Congress passed the Coinage Act, marking a pivotal moment in American monetary history. This act established the dollar as the country's official currency and defined its value in terms of silver and gold, aiming to create a stable and trustworthy monetary system. For much of its early history, the dollar was backed by precious metals, ensuring confidence in its value. However, in the 20th century, the dollar transitioned to a fiat currency system, meaning its value was no longer tied to gold or silver but backed by the US government's credibility. This shift allowed for more flexibility in managing the economy and implementing monetary policies.
The dollar's rise to global prominence began after World War II with the Bretton Woods Agreement of 1944. This accord pegged many international currencies to the US dollar, which was in turn linked to gold. Additionally, the agreement established the dollar as the world's primary reserve currency. Even after the collapse of the Bretton Woods system in the 1970s, the dollar maintained its dominance due to the strength and stability of the US economy.
Today, the dollar serves not just as a currency but as a symbol of economic power and reliability. It is used extensively in global trade, international investments, and as a benchmark for evaluating other currencies. Despite competition from emerging currencies like the euro and the Chinese yuan, the dollar remains at the heart of the global financial system, reflecting its enduring influence.
“Adapted from History of dollar”
Question 23: The word "this act" in paragraph 2 refers to:
A. defining its value in terms of silver
B. passing the Coinage Act
C. marking a pivotal moment in American monetary history
D. creating a stable and trustworthy monetary system
Question 24: The phrase "pegged to" in paragraph 3 could best be replaced by:
A. tied to B. converted into C. traded for D. separated from
Question 25: The word "prominence" in paragraph 3 is OPPOSITE in meaning to:
A. superiority B. cooperation C. inferiority D. isolation
Question 26: Which of the following best paraphrases the underlined sentence in paragraph 4?
A. The dollar continues to dominate the global financial system.
B. The dollar is no longer central to the global financial system.
C. The global financial system depends entirely on the dollar.
D. The dollar’s role in the global financial system is declining.
Question 27: Which of the following is NOT mentioned in the passage about the history of the dollar?
A. The origin of the term "dollar."
B. The role of the Bretton Woods Agreement.
C. The adoption of the dollar in Canada.
D. The transition from a gold standard to fiat currency.
Question 28: Which of the following is TRUE according to the passage?
A. The dollar, which is now a widely recognized currency, originated in the Americas.
B. The Bretton Woods Agreement introduced the concept of fiat currency.
C. The US dollar has faced competition from the euro and yuan.
D. The dollar’s value was always determined by government policies.
Question 29: In which paragraph does the writer mention the dollar’s shift away from a precious metal standard?
A. Paragraph 1 B. Paragraph 2 C. Paragraph 3 D. Paragraph 4
Question 30: In which paragraph does the writer mention the historical foundation of the dollar's global dominance?
A. Paragraph 1 B. Paragraph 2 C. Paragraph 3 D. Paragraph 4
Đề thi thử TN THPT 2025 - Cấu trúc mới - Môn TIiếng Anh - Đề 39 - File word có lời giải
