Key Elements of Bretton Woods Flashcards
1
Q
National currencies expressed in terms of gold or its value.
A
Currency pegged to gold
2
Q
Each country required to have a central authority (e.g., central banks or national treasuries).
A
Monetary Authorities
3
Q
Founded to oversee exchange rates
A
International Monetary Fund (IMF)
4
Q
Eliminated trade restrictions between member nations.
A
Free Trade
5
Q
Established as the global reserve currency.
A
US Dollar
