The international gold standard worked well until (LO3) a) World War I c) 1968 b) 1940 d) 1975

The international gold standard was a monetary system in which the value of currencies was based on a fixed quantity of gold. Under this system, countries agreed to convert their currencies into gold at a fixed price, which facilitated international trade and helped maintain global price stability.

To identify when the international gold standard worked well until, it's essential to briefly review the historical events. The gold standard was most widely used in the late 19th and early 20th centuries. It began to unravel during World War I, when countries needed to print more currency to finance the war, and was mostly abandoned during the Great Depression in the 1930s. Now let's look closer at the given options: a) World War I: The gold standard broke down during this period, as nations began printing money to finance their military efforts and suspended gold convertibility. c) 1968: It is not a key date for the gold standard; however, it does mark the end of the London Gold Pool, an attempt to maintain the Bretton Woods system of fixed gold exchange rates. b) 1940: During this time, World War II was occurring, but by this point, the gold standard had already been mostly abandoned and replaced by different currency systems. d) 1975: This date does not mark a significant event regarding the gold standard, although the 1970s saw the collapse of the Bretton Woods system, which was a system of fixed exchanged rates and not directly related to the gold standard.

Based on the historical analysis, the gold standard worked well until it began to break down during World War I. Therefore, the correct answer is: a) World War I