Which of the Following Statements About Aspects of Bretton Woods

question 23

Multiple Choice

Which of the following statements about aspects of Bretton Woods and the Washington Consensus is accurate?

• A) The Washington Consensus helped pave the way for the creation of institutions like the IMF and World Bank.
• B) The IMF provides loans and technical assistance to advance development in less-developed countries.
• C) A core goal of Bretton Woods was to help manage economic relations between countries, and the Washington Consensus advocated a reduction of states' control over the market.
• D) Both Bretton Woods and the Washington Consensus advocated the maintenance of state-controlled industries in developing countries so that they could compete with the developed world.

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Definitions:

Market Determined Prices

Prices established through the interaction of supply and demand in a marketplace, reflecting the equilibrium where the quantity supplied equals the quantity demanded.

Ration Coupons

Documents or digital vouchers that allow the holder to purchase a certain amount of a product, often used by governments in times of shortage to ensure equitable distribution.

Right to Purchase

The option or privilege given to an individual or entity to buy something at a predetermined price within a specific time frame.

Price System

The mechanism whereby the prices of goods and services are determined in a free market economy, primarily through the interaction of supply and demand.