The Fixed Exchange Rate System Set Up in the 1940s

question 168

Multiple Choice

The fixed exchange rate system set up in the 1940s was the

• A)purchasing power parity exchange system.
• B)gold standard.
• C)Bretton Woods system.
• D)European Union euro system.

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Definitions:

Groupthink

A phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Deindividuation

A psychological state where an individual loses self-awareness and self-restraint, often in group settings, leading to uncharacteristic behavior.

Normative Influence

A type of social influence that leads individuals to conform in order to be accepted and liked by others.

Informational

Relating to or providing information; designed to convey knowledge or provide explanations.