10 Questions
What was the basis of international economic exchange in the pre-World War I global monetary system?
Gold
What was a key feature of the Bretton Woods Agreement?
Fixed exchange rates
What was the main concern expressed by countries in the late 1960s regarding the US dollar?
Insufficient gold reserves to exchange all US dollars
What is the Triffin Paradox named after?
Economist Robert Triffin
What are the current reserve currencies for world products and services?
US dollar and euro
What was the main advantage of the Bretton Woods system over the gold standard?
National flexibility
What was the Triffin Paradox concerned with?
The faith in the ability of the US government to convert dollars
What was the impact of the US trade balance turning to a deficit?
Countries substantially increased their holdings of US dollars
What was the pre-World War I global monetary system based on?
Gold standard
What was the main concern expressed by countries in the late 1960s regarding the US dollar?
The US did not have enough gold reserves to exchange all US dollars
Test your knowledge of the international monetary system with this chapter 6 IBT reviewer quiz. Explore the pre-World War I gold standard and the fixed exchange rate system, and understand the rules governing global monetary exchange between countries.
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