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Why Did the Gold Standard Result in a Fixed Exchange

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Why did the gold standard result in a fixed exchange rate system? How did the United States dollar become the currency standard under the Bretton Woods system?


Definitions:

Throughput Time

The complete duration needed to create a product, starting from the commencement of its production until it's finished.

Manufacturing Cycle Efficiency

A metric that evaluates the efficiency of a manufacturing process by comparing the value-added time to the total production time.

Queue Time

The duration that an item spends waiting to be processed or serviced in a system.

Delivery Cycle Time

The total time taken from receiving a customer order to the delivery of the product, indicating the efficiency of the production and delivery system.

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