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Q.

Bretton Woods twins were formed in which year?


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a

1944

b

1945

c

1956

d

1965 

answer is A.

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Detailed Solution

Bretton Woods twins were formed in 1944 following World War II. Major economists determined that maintaining mass production required mass consumption as well. As a result, to fund mass spending, people needed a substantial and stable income. Economic stability was required to ensure that mass consumption could continue, allowing for the mass production of commodities. A meeting of the United Nations Monetary and Financial Conference was conducted in July 1944, in Bretton Woods in New Hampshire, the USA, to accomplish this. It resulted in the creation of the World Bank and the International Monetary Fund (IMF) to govern global economic activity and aid underdeveloped countries.
 
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