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In 1933, FDR forbade the export of gold and took the nation off the gold standard. No longer would paper money be redeemed in gold coin, which was being horded. Instead, the value of money was to be based on the government's word, and the price of gold was frozen by law at $35 per ounce.

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Q: In adopting the policy of government-managed currency the new deal determinded that the value of the US dollar would be set by?
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