1-What is the International Monetary System? What are its’ problems? How can payments imbalances become remedied?
2-What is the Bretton Woods System? Who created it, when, and why? Is it still used in the present? What were its’ strengths and weaknesses?
Both answers have to be 6 pages each.
You must include some of terms in the attached file
David Ricardo, "Comparative Advantage," "The Iron Law of Wages," and "Theory of Rents."_x000D_ _x000D_ Anne-Robert Turgot and Jean-Baptiste Say_x000D_ _x000D_ Physiocrats_x000D_ _x000D_ Charles Fourier and Count Sainte-Simon_x000D_ _x000D_ Utilitarianism_x000D_ _x000D_ Karl Marx_x000D_ _x000D_ William Stanley Jevons and Leon Walras_x000D_ _x000D_ Historical Economics and the Marshallian School _x000D_ _x000D_ East Asian Model of Developement_x000D_ _x000D_ Export Oriented Strategy_x000D_ _x000D_ Rent Seeking_x000D_ _x000D_ Structural Adjustment Programme_x000D_ _x000D_ Efficiency Oriented Investment_x000D_ _x000D_ Foreign Direct Investment_x000D_ _x000D_ Horizontal Integration_x000D_ _x000D_ Intangible Asset_x000D_ _x000D_ Locational Advantages_x000D_ _x000D_ Market Oriented Investment_x000D_ _x000D_ Natural Resource Investment_x000D_ _x000D_ Positive Externalities_x000D_ _x000D_ Specific Asset_x000D_ _x000D_ Vertical Integration_x000D_ _x000D_ Calvo Doctrine_x000D_ _x000D_ Export Processing Zone_x000D_ _x000D_ Locational Incentives_x000D_ _x000D_ Multilateral Agreement on Investment_x000D_ _x000D_ Obsolescing Bargain Performance Requirement_x000D_ _x000D_ Trade Related Investment Measures_x000D_ _x000D_ United Nations on Permanent Sovereignty over Natural Resources_x000D_ _x000D_ Balance of Payments and Balance of Payments Adjustment_x000D_ _x000D_ Bretton Woods System_x000D_ _x000D_ Capital Account_x000D_ _x000D_ Conditionality_x000D_ _x000D_ Current Account_x000D_ _x000D_ Exchange Rate System and Exchange Restrictions_x000D_ _x000D_ Fixed Exchange Rate System and Fixed but Adjustable Exchange Rate System_x000D_ _x000D_ Floating Exchange Rate System_x000D_ _x000D_ Foreign Exchange Market_x000D_ _x000D_ Foreign Exchange Reserves_x000D_ _x000D_ Fundamental Disequilibrium_x000D_ _x000D_ Managed Float_x000D_ _x000D_ Speculative Attacks_x000D_ _x000D_ Stabilization Fund_x000D_ _x000D_ European Monetary System_x000D_ _x000D_ International Investment Position_x000D_ _x000D_ Louvre Accord, Monetary Accord, and Plaza Accord_x000D_ _x000D_ Target Zone_x000D_ _x000D_ Phillips Curve