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mylen [45]
3 years ago
13

The Bretton Woods system a. ended in 1971 b. ended in 1939 when World War II began c. is currently the basis for the internation

al monetary system d. is currently in use only by the major industrial nations
History
1 answer:
kkurt [141]3 years ago
4 0

Answer:

The correct answer is A. The Bretton Woods system ended in 1971.

Explanation:

The Bretton Woods system was a fixed exchange rate system in which the exchange rate for countries' currencies against the US dollar was fixed. From 1945 to 1971, it regulated exchange rates for member countries of the International Monetary Fund (IMF).

In July 1944, an international conference was held in the small town of Bretton Woods, New Hampshire, with participants from 44 nations. It was decided to set up the International Monetary Fund and the Bretton Woods system, the latter being used until the early 1970s.

The agreement meant that the member countries joined a fixed exchange rate system, which set the exchange rate for the country's currency against the US dollar. Instead, the US guaranteed a fixed redemption price of the dollar in gold. Exchange rate changes were made only to adjust for "basic imbalances" in the balance of payments. In practice, the agreement meant an end to repeated and drastic devaluations of local currencies in search of competitiveness in the export market. Earlier currency restrictions could also be lifted, with the result that international trade could increase.  

The system was aborted in 1971, when the United States decided to no longer guarantee the dollar value with a fixed redemption price in gold, called the "Nixon shock". By then, the United States had already let the dollar exchange rate float in 1968. The reasons were, among other things, in the extremely costly Vietnam War for the United States. The result was that other currencies with previously fixed exchange rates also floated. The Bretton Woods system formally ceased in 1973, after vain attempts to stabilize key currencies.

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1. What was the plight of the farmers?
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Many farmers blamed railroad owners, grain elevator operators, land monopolists, commodity futures dealers, mortgage companies, merchants, bankers, and manufacturers of farm equipment for their plight. Many attributed their problems to discriminatory railroad rates, monopoly prices charged for farm machinery and fertilizer, an oppressively high tariff, an unfair tax structure, an inflexible banking system, political corruption, corporations that bought up huge tracks of land. They considered themselves to be subservient to the industrial Northeast, where three-quarters of the nation's industry was located. They criticized a deflationary monetary policy based on the gold standard that benefited bankers and other creditors.

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7 0
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zlopas [31]

Answer:

Answers are given below :

Explanation:

1. The Umayyad Islamic empire did not face any Dark Ages during the Middle Ages as they were expanding there empire. During this time they have won many Christian land territories. Spread their empire in Spain and Asia. Art was flourished.  

2. The term Dark Ages referred to describe the Middle Ages because of the lack of quality in literature and culture in this period. During this era, the Black Death (plague) widely spread in Europe. The 100 years of war between France and England and starvation because of climate change in Europe led to devastation.

3. Europeans went for the crusade to be protecting Christendom and stop the expansion of Muslim states. During that period, Muslim rulers were becoming powerful as they were spreading their empire across Christian land. Crusaders went to recapture territories that were part of Christian.

4. Constructing a cathedral shows people devotion to the church and its believes. During the Middle Ages people faced many problems and deaths in their family. By having a Cathedral, people can see the power and holiness by praying to god.

5.  Romanesque churches created with large wall round and pointed arches. It also had vaults, and piers for columns. Romanesque architecture arrived in Europe after crusades.

6.   The Middle Ages books in Europe considered being works of art for several reasons. Books in those time were handmade, which took years to complete. Majority of books were symbols of knowledge and attribute of God.  Monks in monasteries played a role in creating thees books with vibrant colors, illustrations, painting, designs, calligraphy and ornaments with gems, gold and silver.

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