Which of the following is true?
A) The present international monetary system can be correctly called a managed floating (flexible) exchange rate system.
B) The fixed exchanged rate system established by the Bretton Woods Accord broke down in the early 1944 and resulted in the establishment of a managed floating exchange rate system.
C) Since the creation of the flexible exchange rate system, the values of all currencies in the world are determined independently by the forces of supply and demand.
D) All of the above are true.
Correct Answer:
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