Under the Bretton Woods System of 1944-1973

question 52

Multiple Choice

Under the Bretton Woods system of 1944-1973

• A) member countries set the par value of their currencies in terms of gold.
• B) market exchange rates were almost fixed.
• C) currency devaluations or revaluations could be used to adjust the par value of a currency when it became overvalued or undervalued.
• D) All of these are correct.

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Definitions:

Legitimate

Something that is lawful, valid, or justified according to established rules, principles, or standards.

Coercive

Involving or using force or threats to persuade someone to do something.

Expert

A person with extensive knowledge or ability in a particular area or field.

Referent

Something that refers or points to another thing; it can be a symbol or sign that denotes another entity.