18 Questions
What was the primary international reserve before the Bretton Woods system was established?
Gold
Which event caused the decline in the use of gold after World War I?
Increased expenditure and inflation due to war
What was the aim of creating the Bretton Woods system?
To create a stabilized international currency system
Which country held most of the world's gold during the Bretton Woods era?
United States
Why did the Bretton Woods system come to an end in 1971?
Inflation problems and financial instability
What was the major cause for major economic powers failing to maintain the gold standard after World War I?
Great depression in 1929
What is the primary purpose of the European Financial Stabilisation Mechanism (EFSM)?
To provide emergency assistance to member states within the Union
Which institution manages the European Financial Stability Facility (EFSF)?
European Investment Bank
In what year was the International Monetary Fund (IMF) formed?
1944
What is the main function of the International Monetary Fund (IMF) among the following options?
Promoting high employment globally
Which of the following is NOT one of the pillars of the financial rescue program enacted by the EU in 2010?
International Monetary Fund
What does international trade involve according to the text?
Exchange of goods, services, and capital across borders
What are the two major driving forces for economic globalization mentioned in the text?
Rapid growth of information in productive activities, marketization
What does marketization involve according to the text?
Decentralization and privatization of state enterprises
Which dimension of economic globalization involves the globalization of financial and capital markets?
None of the above
What is the role of the International Monetary Systems (IMS) mentioned in the text?
Setting rules for facilitating international trade among nations
During which time period was trade carried out without any institutional support with the help of gold and silver?
1870 to 1914
Which process involves transferring industry or service from public to private ownership and control?
Privatization
Test your knowledge about the three-pillar financial rescue program enacted by the EU in response to the 2010 crisis, including the European Financial Stability Mechanism, European Financial Stability Facility, and International Monetary Fund assistance. Explore the future of EMU and the European Financial Stabilisation Mechanism (EFSM).
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