nswer the following question about the history of international monetary systems. A short paragraph for each is fine. (a) What were the main drawbacks of the gold standard? (b) Define external and internal balance. Give an example of when they are odds with each other. (c) Explain the Open-Economy Monetary Trilemma. Why can't a country achieve all three goals? (d) How did the Bretton Woods System solve the policy trilemma? Why did the Bretton Woods System fail