(a)Briefly explain why the Classical Gold Standard period is described as a regime of FIXED Exchange Rate and suggest some reasons why you think many people in business, academia and politics still yearn for a return to the era. (b)How did BRETTON WOODS create a system that ultimately led to its own demise? (c)Suppose a FACTOR will buy an exporter's Receivables at 2% per month discount. In addition, the Factor will charge an extra 1.95 % fee for nonrecourse financing. If the exporter decides to factor $2.5 million in 180-day receivables without recourse, how much will the exporter receive?. On an annualized basis, determine how much this transaction will cost the Factor.