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1) Explain:A


1) Explain:A. How economic conditions today differ from those prevailing under the gold standard period?B. Why the different economic conditions today would make the re-establishment of a smoothly working gold standard impossible.2. A. With respect to a nation with a $100-million quota in the IMF, indicate how the nation was to pay in its quota to the IMF and the amount that the nation could borrow in any one year under the original rules. B. How are the rules different today?4. Explain the role of the dollar under the Bretton Woods System.6. Explain briefly the operation of the present international monetary system.

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