1.Do you think that the collapse of the Bretton Woods system would have been less likely had surplus countries expanded their economies to ease the burden of adjustment on the countries with deficits?...

1.Do you think that the collapse of the Bretton Woods system would have been less likely had surplus countries expanded their economies to ease the burden of adjustment on the countries with deficits? 2. How would you go about trying to estimate the seigniorage gains to the United States? [Hint: They depend on the quantity of US dollars held abroad,the competitive rate of interest that would be paid on these, and the actual rate of interest paid.]