Question

Which of the following institutions are related to the Bretton Woods Agreement?

• A. International Labour Organization
• B. International Monetary Fund
• C. World Bank
• D. World Trade Organization
• E. Both B & C

Hint:

To remember which institutions stem from the Bretton Woods Agreement, focus on the primary goal: rebuilding global economic stability after WWII, leading to the creation of the IMF and World Bank.

Answer 1

Answer: (E)

The Bretton Woods Agreement was a landmark agreement in 1944 that established the International Monetary Fund (IMF) and the World Bank. These institutions were created to foster international economic cooperation and to ensure post-World War II reconstruction. The World Trade Organization (WTO) was established much later, in 1995, and is not part of the Bretton Woods Agreement. 

Step 1: IMF (International Monetary Fund).
The IMF was directly created by the Bretton Woods Agreement to promote international monetary cooperation and to stabilize exchange rates among its member countries. 

Step 2: World Bank.
The World Bank was also established under the Bretton Woods Agreement to aid in the reconstruction of war-torn Europe and to help developing countries with development projects. 

Step 3: WTO (World Trade Organization).
The WTO, although closely tied to global economic development, was not part of the Bretton Woods Agreement. It was established much later to oversee international trade agreements. Thus, the correct answer is option (E), as both the IMF and the World Bank are related to the Bretton Woods Agreement. 

Final Answer: 

\[ \boxed{\text{(E) Both B \& C}} \]