What was the main purpose of the Bretton Woods System?
Understand the Problem
The question is asking about the main purpose of the Bretton Woods System, which is related to international economic policy and agreements established after World War II.
Answer
To stabilize exchange rates and prevent another global economic depression.
The final answer is to stabilize exchange rates and prevent another global economic depression.
Answer for screen readers
The final answer is to stabilize exchange rates and prevent another global economic depression.
More Information
The Bretton Woods System aimed to create a stable global exchange rate system using the U.S. dollar and gold to prevent economic instability.
Tips
A common mistake is to confuse the Bretton Woods System with initiatives primarily focused on free trade or direct financial aid.
Sources
- The web page with info on - Bretton Woods Created - federalreservehistory.org
- Bretton Woods Agreement - Overview, History, Significance - corporatefinanceinstitute.com
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