Under the Bretton Woods System, Each Country Was Responsible for Maintaining

question 35

Multiple Choice

Under the Bretton Woods system, Each country was responsible for maintaining its exchange rate within ±1 percent of the adopted par value by

• A)buying or selling foreign exchanges as necessary.
• B)buying or selling gold as necessary.
• C)expanding or contracting the supply of loanable funds as necessary.
• D)increasing or decreasing their money supply as necessary.

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Definitions:

Top Executives

Senior-level personnel responsible for making overarching decisions and setting the strategic direction of a company.

Services

Intangible economic activities that satisfy consumer needs, such as healthcare, education, and financial services.

Loyalty

A strong feeling of support or allegiance to a person, group, or organization.

Profits

The financial gain obtained when the revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.