Economics · Bretton Woods System
Consider the following statements about the Bretton Woods system (1944–1971): 1. It was based on a gold–dollar exchange standard, with the US dollar convertible to gold at $35 per ounce. 2. The system collapsed primarily because of the Triffin Dilemma — the US had to run persistent deficits to supply global liquidity, undermining dollar credibility. 3. The IMF was created under Bretton Woods to provide short-term balance of payments financing. 4. Under Bretton Woods, exchange rates were freely floating without IMF oversight. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3 only✓
- 22, 3 and 4 only
- 31 and 3 only
- 41, 2, 3 and 4
Correct answer
1, 2 and 3 only
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