8
AssignmentMultiple Select

Trade Barriers

Question 8 • GA-GSE Personal Finance and Economics

Which actions were taken after WWII to help ensure that an economic crisis like the Great Depression would not occur again? Check all that apply.

Answer
A
Agreements were signed to remove links between currencies.
B
The General Agreement on Tariffs and Trade was overturned in 1971.
C
The Bretton Woods Agreement created a system to connect the world’s currencies.
D
The General Agreement on Tariffs and Trade reduced trade barriers.
E
Countries created formal agreements to increase trade barriers.

Explanation

After World War II, the Bretton Woods Agreement established a system linking currencies to promote monetary stability. Countries also adopted the General Agreement on Tariffs and Trade (GATT), which reduced trade barriers and encouraged international trade. These steps were intended to support economic stability; they did not remove currency links or increase trade barriers.

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