The Bretton Woods Agreements

question 59

Multiple Choice

The Bretton Woods agreements

• A)established a system of fixed exchange rates based on the free convertibility of the U.S.dollar into gold.
• B)established a system of fixed exchange rates based on the gold standard.
• C)permitted countries with a balance of payments deficit to make regular devaluations of their currencies.
• D)established GATT to police and manage exchange rates.

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Definitions:

FUTA Tax Liability

Federal Unemployment Tax Act liability, which denotes the tax employers must pay to fund the federal government's unemployment benefits.

Earnings

The amount of profit that a company produces during a specific period, which is calculated as revenues minus expenses.

Advance Premium

An advance premium refers to payments made by policyholders to insurers, covering future periods of insurance coverage.

Workers' Compensation

Insurance offering medical benefits and compensation for lost wages to employees who get injured while working.