The Bretton Woods System Worked Fairly Well for a Number

question 191

Multiple Choice

The Bretton Woods system worked fairly well for a number of years, but it finally broke down over

• A)lack of agreement on how to settle the problems of the surplus nations.
• B)its inability to devalue the U.S.dollar.
• C)the huge debts of the IMF to less-developed countries.
• D)the controversies generated by surplus nations wanting to devalue their currencies.

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Definitions:

Overhead Rates

The ratio used to allocate manufacturing overhead costs to units produced or services provided, based on a specific formula or allocation base.

Setup Labour

The work and time involved in preparing equipment or machines for a new production run, often considered a manufacturing overhead cost.

Setup For One Run

The preparation and adjustment activities required to switch a production process or machine from making one product or batch to another.

Activity Cost

The financial sum associated with carrying out a specific business task or operation, usually involved in budgeting and accounting.