Statement I: The International Monetary Fund (IMF)was set up to promote free trade,free market style economies around the world.
Statement II: The World Bank was created in 1944 for the purpose of making long-term,low-interest loans to developing countries,mainly to build highways,bridges,dams,power generators,and water supply systems.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

Statement I is false because the primary purpose of the IMF is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries to transact with each other. Statement II is true as the World Bank was indeed created in 1944 with the purpose of providing financial and technical assistance to developing countries for development programs (e.g., bridges, roads, schools, etc.) that are expected to improve the economic prospects and quality of life for people in those countries.

Statement I: the International Monetary Fund (IMF)was Set Up to Promote