Question

true or false

Bretton Woods ended the gold standard for every country in the world except for England whose pound sterling became the world’s reserve currency.

true or false

The IMF or the International Monetary Fund was created at Bretton Woods to give nations a source for economic development grants to assist them with post World War II reconstruction.

true or false

Wal-Mart is supportive of the Chinese effort to strengthen the value of the Yuan against the American dollar as it will give them competitive advantage in the cost of their products manufactured in China.

Answer 1

1. Bretton Wood systems replaced Gold standard with new monetary system in which US dollar became the reserve currency replacing Gold. So the given statement is False

2. Bretton Wood systems gave rise to IMF and World bank, while IMF's main function was to maintain financial stability accross the world, World bank was given the responsibility to source grants for economic grants post WWII So the given statement is False

3. If the products are manufactured in China, the costs are paid in Chinese Yuan, and if Yuan strengthens against USD the cost of manufacturing will appreciate too in USD terms, so this strategy wont provide Wal Mart a competitive advantage it is looking for. So the given statement is False