Briefly describe how the Bretton Woods system operated
What will be an ideal response?
Under the Bretton Woods System of fixed exchange rates, the United States pledged to buy or sell gold at a fixed price of $35 per ounce and the central banks of the member countries pledged to buy and sell their currencies at a fixed rate against the dollar. If a shortage or surplus of a country's currency occurred at the fixed exchange rate (also known as the par exchange rate), the central bank of the member country would buy or sell dollars with their currency to maintain the fixed exchange rate.
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Which of the following is most accurate about the period between the Civil War and World War I?
a. An increasing share of the U.S. population lived in rural areas. b. Unions pursued strategies of peaceful negotiation with employers. c. The average number of hours of work increased significantly during the period. d. The difference between male and female wages decreased.
Which of the following is an example of a positive economic statement?
a. The economy's real output increased at about 3 percent last year and the unemployment rate decreased. b. A central bank should not print too much money because inflation could result. c. Congress should stabilize the social security system by raising taxes now. d. The government farm products surplus should be distributed to the needy.
When a supervisor believes that all employees like work it is called
a. theory y b. theory x c. hawthorne effect d. tqm
Buyers and sellers receive information about what should be bought and what should be produced
A) By listening to TV news programs B) From prices in a market system C) From newspaper gossip columns D) From friends and family