The Agreement That Ended the Era of Fixed Exchange Rates

question 17

Multiple Choice

The agreement that ended the era of fixed exchange rates for the major economies was called the

• A)Louvre Accord.
• B)Bretton Woods Agreement.
• C)Smithsonian Agreement I.
• D)Smithsonian Agreement II.
• E)Plaza Accord.

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Definitions:

Instrumental Component

A term used in psychology to refer to aspects of behavior or actions that are goal-oriented and aimed at achieving specific outcomes.

Reciprocal Exchange

A mutual give-and-take process in relationships, where each party provides benefits to the other with the expectation of receiving comparable benefits in return.

Obligations

Duties or commitments that one is bound to by law, promise, or moral responsibility.

Trust

The belief that a person is both honest and benevolent.