Of the Following,which Is NOT True About the Bretton Woods

question 56

Multiple Choice

Of the following,which is NOT true about the Bretton Woods System?

• A) It was established in 1965.
• B) It established a global currency system based on a gold standard with the U.S.dollar pegged at a fixed rate of exchange to gold in an effort to control inflation.
• C) The IMF was established under the Bretton Woods Agreement.
• D) Eventually,major nations met to consider abandoning the Bretton Woods Agreement.
• E) Under the Smithsonian Agreement,the U.S.devalued the dollar against other countries' currencies.

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Definitions:

Mutually Beneficial Resolution

A solution to a conflict in which all parties gain or benefit in a way that is advantageous to them.

Mirror-image Perceptions

In conflict situations, it refers to the tendency of parties to see themselves in positive terms and the enemy in negative terms, often mirroring each other’s perceptions.

Altruistic Goals

Objectives or intentions aimed at bringing benefits or well-being to others without expecting personal gain.

Social Environment

The immediate physical and social setting in which people live or in which something happens or develops.