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As a Result of Bretton Woods and the Dollar's Use

question 21

True/False

As a result of Bretton Woods and the dollar's use as a proxy for gold,the U.S.ran up a Balance of Payments deficit of around $56 billion,which led to the U.S.going off the gold exchange standard in 1971.


Definitions:

Karen Horney

A German psychoanalyst known for her theories on neurotic personality development and the concept of neurotic needs.

Freud

The founder of psychoanalysis, Sigmund Freud, was an Austrian neurologist who developed this clinical technique for managing psychopathology through discussions between a psychoanalyst and a patient.

Social Tensions

Strains or conflicts within a society resulting from differing views, beliefs, or needs among its members.

Childhood

The period in a human's life from birth to puberty, characterized by growth, development, and learning.

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