Please help, I have no idea what any of this means. Thank you so much!

1. What is the rationale for the existence of the International Monetary System? Explain it in terms of its functional responsibilities and its concerns. 2. The exchange rate arrangement for currency conversion is part of the International Monetary System. Over the year, the exchange rate arrangement (system) has changed from gold standard to current hybrid system. (a) Briefly describe how a country's exchange rate (price of its currency in terms of another currency) is determined under the gold standard, the flexible rate system, Bretton Woods system and the post-Bretton Woods (hybrid) system. (b) Using the IMF publication on currency arrangement, find the exchange rate arrangement used by the following countries: China, U.K., Canada, Brazil, Ecuador, and Bosnia