Describe the Bretton Woods system. Why did the United States leave the Bretton Woods system and adopt floating exchange rates to determine currency values?
What will be an ideal response?
The United States supported Liberal International Economic Order (LIEO), the set of
regimes created after World War II, designed to promote monetary stability and reduce
barriers to the free flow of trade and capital. Embedded liberalismwas the dominant
economic approach during the Bretton Woods system, which combined open
international markets with domestic state intervention to attain such goals as full
employment and social welfare. Fixed exchange rate, a system in which a government
sets the value of its currency in relation to another country's currency at a fixed rate of
exchange and does not allow it to fluctuate in the global money market, brought stability
to global economic system.
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The process the Supreme Court uses to extend the Bill of Rights into the states is called
a. selective incorporation. b. total incorporation. c. minimum standard policy. d. doctrine of original intent. e. logical reasoning policy.
The main reason that there are only two major political parties in the United States is attributable to Article VII, Section 4 in the U.S. Constitution, which mandates that the nation will have only two parties
a. True b. False Indicate whether the statement is true or false