Under the Bretton Woods System

question 66

Multiple Choice

Under the Bretton Woods system

• A)there was an explicit set of rules about the conduct of international monetary policies.
• B)each country was responsible for maintaining its exchange rate within 1 percent of the adopted par value by buying or selling foreign exchanges as necessary.
• C)the U.S.dollar was the only currency that was fully convertible to gold.
• D)All the choices are correct.

---

Definitions:

Scapegoating

The practice of unfairly blaming an individual or group for problems or negative outcomes, instead of identifying the true cause.

Cognitive Boxes

Cognitive boxes, or schemata, are mental structures that help individuals organize and interpret information, based on past experiences and knowledge.

Organizational Conflict

Any disagreement, discord, or dispute arising within an organization, stemming from differences in opinions, values, or interests among individuals or groups.

Social Factors

Elements within society, such as family, education, and culture, that affect individuals and their way of life, influencing behaviors, attitudes, and opportunities.