Explain the major characteristics of the bretton woods


1. Prepare the square root rule for optimum transactions balances, and explain its conclusions with respect to the determinants of the demand for money.

2. Explain the major characteristics of the Bretton Woods system and the role of the IMF in this system. Discuss why the Bretton Woods system failed. 

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Macroeconomics: Explain the major characteristics of the bretton woods
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