After World War II, why might countries have preferred the Bretton Woods system to reestablishing the gold standard? In your answer, be sure to note the important ways in which the Bretton Woods...

After World War II, why might countries have preferred the Bretton Woods system to reestablishing the gold standard? In your answer, be sure to note the important ways in which the Bretton Woods system differed from the gold standard. What is the theory of purchasing power parity? Does the theory give a complete explanation for movements in exchange rates in the long run? Briefly explain.