1. What was the agreement for Bretton Woods System?

1. Fixed exchange rate
2. US Dollar as reserve currency
3. US Dollar was pegged to gold at $35 an ounce
4. All of the above.

1. What does this mean: USD/JPY = 119.962?

1. That the United States and Japan use the same currency
2. That 1JPY which is the base currency is trading for US$119.962 which is the quote currency.
3. That the United states has traded with japan 119.962 times
4. That US $1, which is the base currency, is trading for JPY119.962, which is the quote currency

True False

1. The World Bank was established to aid in the reconstruction of post-world war 2 in Europe.

2. Devaluation of a states currency tends to increase imports into the state.

3. The World bank coordinates international currency exchange.

4. If someone needs to make a payment in the currency of another country, they must have actual possession of that currency.