The Bretton Woods System Is Best Described as A

question 28

Multiple Choice

The Bretton Woods system is best described as a:

• A)pure floating exchange rate system.
• B)partially-flexible exchange rate system or "dirty float."
• C)pure gold standard system.
• D)fixed exchange rate system.

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Definitions:

Equilibrium

A state in a market where supply equals demand, meaning that there is no tendency for the market price to change unless external factors alter supply or demand.

Specializing

The process by which individuals, businesses, or countries focus on producing a limited range of goods or services, to gain a competitive advantage in terms of efficiency, quality, or cost.

Specialization

Refers to the process by which individuals, firms, or countries focus on producing a limited range of goods or services to achieve greater efficiencies.

Economic Output

The total value of all goods and services produced within an economy over a specific period.