Question

Arrange the following elements in correct chronological sequence (earliest to latest):
(A) Smithsonian Agreement
(B) Bretton Woods Conference
(C) Establishment of WTO
(D) Gold Standard
Choose from the options given below:

• A. (A), (B), (C), (D)
• B. (D), (B), (A), (C)
• C. (D), (A), (B), (C)
• D. (C), (B), (D), (A)

Answer 1

The Correct Option is B

The objective is to order the provided economic events chronologically, establishing the timeline for each:

• Gold Standard - Commenced in the 19th century and concluded in the 1930s. This precedes the other events listed, serving as the predominant monetary system prior to Bretton Woods.
• Bretton Woods Conference - Convened in 1944, this conference led to the establishment of the Bretton Woods system, the International Monetary Fund (IMF), and the World Bank in the aftermath of World War II.
• Smithsonian Agreement - A 1971 international monetary accord that realigned exchange rates and expanded Special Drawing Rights (SDRs) following the dissolution of the Bretton Woods system.
• Establishment of WTO - The World Trade Organization was founded in 1995, superseding GATT to oversee international trade agreements.

The correct chronological sequence of these historical events is:(D) Gold Standard, (B) Bretton Woods Conference, (A) Smithsonian Agreement, (C) Establishment of WTO, represented as (D), (B), (A), (C).

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