Under the Bretton Woods agreement, the world monetary system operated exactly like the gold standard of the pre-World War I era.

Name: Under the Bretton Woods agreement, the world monetary system operated exactly like the gold standard of the pre-World War I era.
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The Bretton Woods system established fixed exchange rates but allowed for adjustments, unlike the pre-World War I gold standard which was based on a more rigid adherence to gold convertibility.

Under the Bretton Woods Agreement, the World Monetary System Operated