Question

Arrange the following in chronological order from earliest to latest:
• [(A)] Smithsonian Agreement
• [(B)] Bretton Woods Conference
• [(C)] Establishment of WTO
• [(D)] Gold Standard

• A. A, B, C, D
• B. D, B, A, C
• C. D, A, B, C
• D. B, D, A, C

Hint:

Remember the timeline: \[ \text{Gold Standard} \rightarrow 1944 \text{ Bretton Woods} \rightarrow 1971 \text{ Smithsonian Agreement} \rightarrow 1995 \text{ WTO} \] This sequence is frequently asked in international economics and global trade questions.

Answer 1

The Correct Option is B

Concept: The international monetary system evolved through different stages involving gold-based currency systems, international agreements, and global trade organizations.

Step 1: Understanding the Gold Standard.}
The Gold Standard was an international monetary system in which currencies were directly linked to gold. It became prominent during the late 19th century, especially around: \[ 1870s \] Hence, it is the earliest event.

Step 2: Understanding the Bretton Woods Conference.}
The Bretton Woods Conference was held in: \[ 1944 \] It established important institutions such as:
• International Monetary Fund (IMF)
• World Bank

Step 3: Understanding the Smithsonian Agreement.}
The Smithsonian Agreement was signed in: \[ 1971 \] It attempted to reform the international monetary system after the collapse of the Bretton Woods fixed exchange rate system.

Step 4: Understanding the establishment of WTO.}
The World Trade Organization (WTO) was established in: \[ 1995 \] It replaced the General Agreement on Tariffs and Trade (GATT).

Step 5: Arranging in chronological order.}
\[ \text{Gold Standard} \rightarrow \text{Bretton Woods Conference} \rightarrow \text{Smithsonian Agreement} \rightarrow \text{WTO} \] Thus, the correct sequence is: \[ D \rightarrow B \rightarrow A \rightarrow C \] Therefore, the correct answer is: \[ \boxed{\text{D, B, A, C}} \]