The Bretton Woods system:
a. allowed for market-determined exchange rates.
b. ended the use of the gold standard in all participating countries.
c. led to a dramatic increase in the U.S. balance of payments deficit.
d. resulted in the rapid increase of the U.S. gold supply in the 1960s.
e. All of the above.
c. led to a dramatic increase in the U.S. balance of payments deficit.
You might also like to view...
Refer to the figure above. Which of the following statements is true when the credit demand curve is CD2 and the credit supply curve is CS1?
A) At all rates of interest below 7% there will be an excess demand for credit. B) At all rates of interest below 5% there will be an excess demand for credit. C) At all rates of interest below 6% there will be an excess demand for credit. D) At all rates of interest below 8% there will be an excess demand for credit.
The discount rate refers to the interest rate on
A) primary credit. B) secondary credit. C) seasonal credit. D) federal funds.
When diminishing marginal returns set in, total product
a. is negative b. decreases at an increasing rate c. decreases at a decreasing rate d. increases at an increasing rate e. increases at a decreasing rate
When aid is in the form of free or remarkably reduced priced goods, it is known as:
A. goods in-kind donations. B. consumable donations. C. freebies. D. direct donations.