The Reason for Calling the Current Exchange Rate System a "Managed

Multiple Choice

The reason for calling the current exchange rate system a "managed float" is

A) it is managed by the IMF
B) it is basically a misnomer because it is impossible to "manage" exchange rates
C) it recognizes that there will be some intervention by central banks
D) only the forces of supply and demand determine the exchange rates
E) Congress passed a law declaring that the exchange rate system be legally termed "managed float"