The Bretton Woods System of exchange rates was established: a. ...

[clippers!]

The Bretton Woods System of exchange rates was established:
 a. to solidify support for the then-existing gold standard.
  b. to peg the worldwide price of silver to the price of gold.
  c. in Europe before World War II to establish a flexible exchange rate regime.
  d. in the United States in 1944 to develop a gold exchange standard.
  e. by a mechanism that made gold the reserve currency of the system.

Question 2

What are the effects of a tariff, and who benefits and who loses when tariffs are imposed? What are the effects of a quota, and who benefits and who loses when quotas are imposed?

[efwsefaw]

Answer to Question 1

d

Answer to Question 2

A tariff raises the domestic price of the good the tariff is placed on. The higher price benefits domestic producers and the tariff revenue benefits the government, both at the expense of domestic consumers. A quota raises the domestic price of the good with the quota imposed on it. The higher price benefits domestic producers and the foreign producers who are allowed to sell the good at a higher price, both at the expense of the domestic consumer. With a tariff the domestic government does collect additional revenue; with an import quota it does not.