When the Bretton Woods System Was Set Up,the United States

question 57

Multiple Choice

When the Bretton Woods system was set up,the United States agreed initially to buy and sell gold at a price of ________ per ounce.

• A)$24
• B)$35
• C)$42
• D)$48

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Definitions:

Debt Cancelling

The act of nullifying the obligation to repay borrowed money, often in the context of financial relief for individuals or countries.

McDonaldization

A term used to describe the increasing presence of fast food business models in various sectors of society, emphasizing efficiency, predictability, calculability, and control.

Neoliberal Globalization

An economic and political ideology focused on free-market policies, deregulation, and increasing the role of the private sector in global affairs.

Neoliberalist

An advocate of neoliberalism, a policy model of social studies emphasizing free-market capitalism, deregulation, and reduction in government spending.