TCW: lesson 5 Questions with
Correct Answers (VERIFIED)
1. International Monetary System
2. Nation States
3. Global Corporations—ANSWER--Actors of Economic Globalization
International Monetary System—ANSWER--the set of rules, customs, instruments, facilities,
and organizations for effecting international payments (Salvatore, 2007).
> the main task of an ______ is to facilitate cross-border transactions, especially trade and
investment. It also reflects economic power and interests, as 'money is inherently political,
an integral part of high politics diplomacy (Benczes, 2016).
1. Gold Standard
2. Bretton Woods System, and
3. European Monetary System—ANSWER--Three (3) global International Monetary System
such as:
Gold Standard—ANSWER--The ______ functioned as a fixed exchange rate regime, with gold
as the only international reserve.
, Bretton Woods System—ANSWER--The reduction of barriers to trade and free flow of money
among nations became the focus to restructure the world economy and ensure global
financial stability contributed to establishment of ______ System.
First element is the expression of currency in terms of gold value
• Second element is the agreement that the official monetary authority in each country
(usually the central bank) would agree to exchange its own currency for those of other
currencies at the established exchange rate, plus or minus one-percent margin.—ANSWER--
Bretton Woods System has five system
Third element is the establishment of the overseer for the exchange rates, the reason why
the IMF was founded.
• The fourth element is the elimination of restrictions on the currencies of member states;
• The fifth element is the adoption of U.S. dollar as the global currency—ANSWER--Bretton
Woods System has five system
World Bank—ANSWER--Delegates of Bretton Woods also agreed on the establishment of
two international institutions such as International Banks for Reconstruction and
Development (IBRD) and International Monetary Fund (IMF).
> IBRD is now known as the _____.
European Monetary System—ANSWER--The collapse of the Bretton Woods system, had
caused the European Economic Community (EEC) under pressure, and member countries set
a regional monetary regime called the _______ (EMS) in 1979 (, 2016).
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
Correct Answers (VERIFIED)
1. International Monetary System
2. Nation States
3. Global Corporations—ANSWER--Actors of Economic Globalization
International Monetary System—ANSWER--the set of rules, customs, instruments, facilities,
and organizations for effecting international payments (Salvatore, 2007).
> the main task of an ______ is to facilitate cross-border transactions, especially trade and
investment. It also reflects economic power and interests, as 'money is inherently political,
an integral part of high politics diplomacy (Benczes, 2016).
1. Gold Standard
2. Bretton Woods System, and
3. European Monetary System—ANSWER--Three (3) global International Monetary System
such as:
Gold Standard—ANSWER--The ______ functioned as a fixed exchange rate regime, with gold
as the only international reserve.
, Bretton Woods System—ANSWER--The reduction of barriers to trade and free flow of money
among nations became the focus to restructure the world economy and ensure global
financial stability contributed to establishment of ______ System.
First element is the expression of currency in terms of gold value
• Second element is the agreement that the official monetary authority in each country
(usually the central bank) would agree to exchange its own currency for those of other
currencies at the established exchange rate, plus or minus one-percent margin.—ANSWER--
Bretton Woods System has five system
Third element is the establishment of the overseer for the exchange rates, the reason why
the IMF was founded.
• The fourth element is the elimination of restrictions on the currencies of member states;
• The fifth element is the adoption of U.S. dollar as the global currency—ANSWER--Bretton
Woods System has five system
World Bank—ANSWER--Delegates of Bretton Woods also agreed on the establishment of
two international institutions such as International Banks for Reconstruction and
Development (IBRD) and International Monetary Fund (IMF).
> IBRD is now known as the _____.
European Monetary System—ANSWER--The collapse of the Bretton Woods system, had
caused the European Economic Community (EEC) under pressure, and member countries set
a regional monetary regime called the _______ (EMS) in 1979 (, 2016).
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
