Until the 1970s

question 218

Multiple Choice

Until the 1970s

• A) all major currencies were allowed to float.
• B) fixed exchange rates consistently led to economic prosperity.
• C) most industrialized countries used some form of fixed exchange rate.
• D) all international transactions were made with gold.

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Definitions:

Brave New World

A dystopian novel by Aldous Huxley, which explores themes of technological advancements, centralized control, and the loss of individuality.

International Council

A global organization or body consisting of members from different countries, formed to address mutual concerns, promote international cooperation, and facilitate dialogue on global issues.

Rerum Novarum

An encyclical issued by Pope Leo XIII in 1891, addressing the condition of the working classes, advocating for workers' rights, and condemning both socialism and unfettered capitalism.

Welfare Capitalism

A system where corporations provide social welfare services to their employees in order to discourage governmental intervention and unionization.