International Monetary System Quiz
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Questions and Answers

What was the basis of international economic exchange in the pre-World War I gold standard system?

  • Gold (correct)
  • Diamonds
  • Oil
  • Silver

    • What was a key feature established by the Bretton Woods Agreement?

  • Random exchange rates
  • Barter system
  • Flexible exchange rates
  • Fixed exchange rates (correct)

    • What was the Triffin Paradox named after?

  • A politician named Triffin
  • An economist named Robert Triffin (correct)
  • A banker named Triffin
  • A philosopher named Triffin

    • What is a reserve currency?

    <p>A main currency held by many countries and institutions as part of their foreign exchange reserves</p> Signup and view all the answers

    What led to the collapse of the Bretton Woods Agreement?

    <p>US trade balance turning to a deficit</p> Signup and view all the answers

    What was the basis of the pre-World War I global monetary system?

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

    What was a key feature established by the Bretton Woods Agreement?

    <p>Fixed exchange rates</p> Signup and view all the answers

    What did the Triffin Paradox suggest?

    <p>The more dollars foreign countries held, the less faith they had in the ability of the US government to convert those dollars</p> Signup and view all the answers

    What is a reserve currency?

    <p>A main currency that many countries and institutions hold as part of their foreign exchange reserves</p> Signup and view all the answers

    What led to the collapse of the Bretton Woods Agreement?

    <p>The US trade balance turning to a deficit</p> Signup and view all the answers

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