The Breakdown of the Bretton Woods System Occurred Because

question 151

Multiple Choice

The breakdown of the Bretton Woods system occurred because

• A)the world economy was basically unhealthy
• B)the collapse of world gold production undermined the operation of the system
• C)the gold value of the dollar exceeded the exchange value, causing an outflow of the gold
• D)the dollar was undervalued
• E)of the greed of the highly industrialized and wealthy countries of the world

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Definitions:

Selling Expenses

Expenses directly related to the sale of goods or services, like marketing expenses and wages for sales personnel.

Administrative Expenses

Costs related to the general administration of a business, such as salaries of senior executives, legal and accounting services.

Product Costs

The total costs associated with making a product, including direct materials, direct labor, and manufacturing overhead.

Variable Cost

Costs that change in proportion to the level of production or business activity, such as materials and labor costs.