Which of the Following Statements Concerning the Bretton Woods Accord

question 24

Multiple Choice

Which of the following statements concerning the Bretton Woods Accord is false?

• A)The accord was signed in Bretton Woods, New Hampshire in 1944.
• B)The accord established fixed exchange rates among the major industrialized nations.
• C)The accord created the Bank for International Settlements.
• D)Under the accord, the U.S. dollar served as the official reserve currency and was fully convertible to gold.

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Definitions:

Buddhism

A world religion founded in the 6th century BCE by Siddhartha Gautama (the Buddha), teaching the path to enlightenment (Nirvana) through practices leading to the cessation of suffering.

South Asia

A region in Asia, consisting of countries like India, Pakistan, Bangladesh, and Sri Lanka, known for its diverse cultures and history.

Indus Civilization

An ancient civilization that flourished in the Indus River valley (present-day Pakistan and northwest India), known for its advanced urban planning, architecture, and commerce.

Pakistan

A South Asian country known for its diverse cultures, languages, and landscapes, from the Himalayan peaks to the Arabian Sea coastline.