The Bretton Woods System

question 20

Multiple Choice

The Bretton Woods system

• A) created flexible exchange rates following World War II
• B) was the predecessor to the North American Free Trade Agreement (NAFTA)
• C) replaced the European Exchange Rate Mechanism (ERM)
• D) tied the dollar to gold and other currencies to the dollar
• E) is the clearinghouse process by which nations buy and sell reserves of foreign currency

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Definitions:

Emotion

A complex psychological state involving an individual's subjective experience, physiological response, and behavioral or expressive response.

Transcendence Need

A psychological term referring to the human desire to go beyond the self and have experiences with spiritual dimensions or universal truths.

Internal Locus

The belief that one has control over their life events and outcomes, as opposed to external forces having that control.

Intrinsic Motivation

A drive to engage in activities for their own sake, where the activities are inherently enjoyable or satisfying without any external reward.