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Which one of these was not a goal of the Bretton Woods system?

a.Stable exchange rates
b.Free trade
c.Economic development
d.Economic protectionismb

1 Answer

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Final answer:

Economic protectionism was not a goal of the Bretton Woods system; instead, the system's objectives included stable exchange rates, free trade, and economic development.

Step-by-step explanation:

The goal of the Bretton Woods system that was not part of its objectives was d. Economic protectionism. The conference aimed to establish an international economic system that promoted stability, avoiding the competitive devaluations that contributed to the 1929 crisis. The outcomes included mechanisms for fixed exchange rates, the creation of the International Monetary Fund (IMF) and the World Bank, and the establishment of a system that would later lead to the formation of the General Agreement on Tariffs and Trade (GATT), and subsequently, the World Trade Organization (WTO).

Meanwhile, economic protectionism, which typically involves the implementation of tariffs and trade barriers to protect domestic industries, was not aligned with the Bretton Woods system's objectives of free trade and economic development. Adam Smith, a key figure in economics, explicitly rejected mercantilism and the idea of trade barriers, further emphasizing the Bretton Woods' focus on trade liberalization.

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