Under the Managed Float System of Exchange Rates

Multiple Choice

Under the managed float system of exchange rates:

A) all exchange rates vary with changes in the market price of gold
B) industrialized nations meet once each year to negotiate readjustments in their exchange rates
C) exchange rates are essentially flexible, but governments intervene to offset short-run or "disorderly" fluctuations in rates
D) exchange rates are adjusted at the discretion of international monetary authorities
E) exchange rates are based on quantities of gold