This Dollar-Based Fixed Exchange Rate System Gave Rise to a Long

question 52

Multiple Choice

This dollar-based fixed exchange rate system gave rise to a long period of economic recovery and growing openness of both international trade and capital flows in and out of more and more countries.

• A) The Gold Standard, 1860-1914
• B) The Interwar Years , 1914-1945
• C) The Bretton Woods Era, 1945-1971
• D) The Floating Era, 1971-1997

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Definitions:

Illusory Promise

A situation in which a party appears to commit to something but really has not committed to anything. It is not a promise and thus not consideration.

Promissory Estoppel

A legal principle that prohibits a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.

Detrimental Reliance

Occurs when a party takes action based on the promise of another, suffering harm as a result when the promising party fails to fulfill their commitment.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature in the workplace or educational settings.