Which of the Following Best Describes Circumstances Surrounding the Breakdown

question 58

Multiple Choice

Which of the following best describes circumstances surrounding the breakdown of the Bretton Woods system?

• A)The United States was enjoying a persistent trade surplus.
• B)There was too much dependence on the dollar because no other country had a stable currency.
• C)Germany,with its strong currency,refused to defend the dollar.
• D)Speculators were betting on the depreciation of the U.S.dollar and they started selling dollars in the foreign exchange market.
• E)The member countries began restricting free trade by introducing tariffs.

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Definitions:

Commons Dilemma

A situation in which individuals' short-term selfish interests conflict with long-term group welfare, often relating to resource management.

Social Welfare

A system that provides assistance to individuals and families in need, aiming to ensure a minimum standard of living and support for the well-being of the community.

Belief in a Just World

The psychological principle that the world is fundamentally fair, leading people to believe that individuals get what they deserve.

Bystander Effect

A social psychological theory that individuals are less likely to offer help to a victim when other people are present.