IMF and World Bank Quiz
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Questions and Answers

What was the main goal of the Bretton Woods System?

  • Encourage competitive currency devaluations
  • Isolate countries from global financial institutions
  • Increase international trade barriers
  • Promote economic interdependence and prosperity (correct)

    • Who were the primary designers of the Bretton Woods System?

  • John Maynard Keynes and Harry Dexter White (correct)
  • Friedrich Hayek and Milton Friedman
  • Joseph Stiglitz and Paul Krugman
  • Adam Smith and Karl Marx

    • What role did the Federal Reserve play in the Bretton Woods System?

  • Opposed the establishment of global financial institutions
  • Controlled all decision-making processes
  • Implemented strict trade barriers
  • Offered advice and counsel on the new system (correct)

    • What was one of the key objectives of the Bretton Woods System regarding exchange rates?

    <p>Ensuring stability</p> Signup and view all the answers

    In what year was the Bretton Woods System inaugurated?

    <p>1944</p> Signup and view all the answers

    What did the participants at Bretton Woods agree to establish?

    <p>Two new institutions</p> Signup and view all the answers

    Which department in the United States held the principal responsibility for international economic policy?

    <p>The Treasury Department</p> Signup and view all the answers

    What was the primary goal of the international monetary system envisioned at Bretton Woods?

    <p>Prevent competitive devaluations</p> Signup and view all the answers

    What characterized the preparation for the conference at Bretton Woods?

    <p>An enormous international undertaking involving financial experts</p> Signup and view all the answers

    What differentiated the plans to implement the goals of the new system at Bretton Woods?

    <p>They differed among participants</p> Signup and view all the answers

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