The Bretton Woods System
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Questions and Answers

Which countries were included in the Bretton Woods system?

  • United States, Mexico, Brazil, Argentina
  • United States, India, South Africa, United Kingdom
  • United States, Canada, Western European countries, Australia (correct)
  • United States, China, Russia, Japan
  • What was the purpose of the Bretton Woods system?

  • To establish rules for commercial relations among independent states (correct)
  • To control the price of gold bullion
  • To prevent balance of payments surpluses
  • To promote competitive devaluations
  • What did the Bretton Woods system require countries to guarantee?

  • Convertibility of their currencies into other countries' currencies
  • Convertibility of their currencies into commodities
  • Convertibility of their currencies into gold bullion
  • Convertibility of their currencies into U.S. dollars (correct)
  • At what rate was the U.S. dollar convertible to gold bullion under the Bretton Woods system?

    <p>US$35 per troy ounce of fine gold</p> Signup and view all the answers

    What institution was established to monitor exchange rates and lend reserve currencies under the Bretton Woods system?

    <p>International Monetary Fund (IMF)</p> Signup and view all the answers

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