Under the Bretton Woods System,when a Nonreserve-Currency Country Was Running

question 17

Multiple Choice

Under the Bretton Woods system,when a nonreserve-currency country was running a balance of payments deficit,

• A) it gained international reserves.
• B) it lost international reserves.
• C) it was necessary for the policymakers to implement a contractionary monetary policy.
• D) both A and C of the above occurred.
• E) both B and C of the above occurred.

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