The recent flexible exchange rate system developed because of:
A) the controversies generated by trade surplus nations wanting to devalue their currencies.
B) the huge debts owed to the IMF by less-developed countries.
C) governments were unable to agree on an alternative to a fixed-rate approach when the Bretton Woods system collapsed.
D) the controversies generated by trade deficit nations wanting to raise the value of their currencies.
Correct Answer:
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