Question

What steps w,ere taken by the economists and politicians of the world to meet the global economic crisis that arose after the Second World War?

Answer 1

The steps taken are as follows : 
(i) Bretton Woods Conference established IMF to deal with external surplus and deficit of its members.
(ii) The World Bank was set up to finance post-war reconstruction.
(iii) Bretton Woods system was based on fixed exchange rates.
(iv) A dollar was anchored to gold at a fixed price.