The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained its external exchange rates within 1 percent by tying its currency to gold and the ability of the International Monetary Fund (IMF) to bridge temporary imbalances of payments.
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Monarchy is the oldest form of government in the United Kingdom. In a monarchy, a king or queen is Head of State. The British Monarchy is known as a constitutional monarchy. This means that, while The Sovereign is Head of State, the ability to make and pass legislation resides with an elected Parliament.
A monarchy is a kind of government where a monarch, a kind of hereditary ruler (someone who inherits their office), is the head of state. Monarchs usually rule until they die or pass down (when a monarch resigns it is called abdication). Most monarchies are hereditary, but some are elected.
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