The Collapse of the Bretton Woods System Marked

question 150

Multiple Choice

The collapse of the Bretton Woods system marked

• A) the end of floating exchange rates and a move to fixed exchange rates.
• B) marked the end of fixed exchange rates and a move to floating exchange rates.
• C) the beginning of the gold standard.
• D) a plunge in the price of gold.
• E) the elimination of paper currencies.

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Definitions:

Offer

A proposal by one party to form a contract, which becomes binding if accepted by the party to whom it's made.

Genuineness Of Assent

Knowing and voluntary assent to the terms of a contract. If a contract is formed as a result of mistake, misrepresentation, undue influence, or duress, genuineness of assent is lacking, and the contract will be voidable.

Fraudulent Misrepresentation

Any misrepresentation, either by misstatement or omission of a material fact, knowingly made with the intention of deceiving another and on which a reasonable person would and does rely to his or her detriment.

Undue Influence

Undue Influence is a legal term referring to a situation in which an individual is able to persuade another’s decisions due to the relationship between the two parties.