Which of the following statements about aspects of Bretton Woods and the Washington Consensus is accurate?
A)The IMF provides loans and technical assistance to advance development in less-developed countries.
B)The WTO helps developing countries develop tariff barriers to protect domestic industries.
C)The Washington Consensus helped pave the way for the creation of institutions like the IMF and World Bank.
D)A core goal of Bretton Wood was to help manage economic relations between countries, and the Washington Consensus advocated a reduction of states' control over the market.
E)Both Bretton Woods and the Washington Consensus advocated the maintenance of state-controlled industries in developing countries so that they could compete with the developed world.

Question

Quizplus · Accepted Answer

Bretton Woods aimed to manage economic relations between countries and establish a stable international monetary system. The Washington Consensus, on the other hand, advocated for market-oriented policies and a reduction of state involvement in the economy. While the IMF and World Bank were created after Bretton Woods, they were not directly linked to the Washington Consensus. Option A is incorrect as the IMF offers loans and technical assistance for balance of payments problems, and not specifically for development. Option B is incorrect as the WTO aims to reduce tariff barriers, not create them. Option C is partially accurate, but it is not a direct link between the Washington Consensus and the creation of these institutions. Option E is incorrect as neither Bretton Woods nor the Washington Consensus advocated for state-controlled industries.

Which of the Following Statements About Aspects of Bretton Woods