The Bretton Woods System Tied the Value of the Currencies

question 60

True/False

The Bretton Woods system tied the value of the currencies of all other countries to the U.S.dollar rather than directly to gold.

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Definitions:

Imports

Goods and services purchased from other countries to be sold or used domestically.

Exports

Exports refer to goods or services produced in one country and sold to buyers in other countries, contributing to the exporting country's economy.

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.