Which of the following statements is FALSE?
A) Today most economies are on a system of floating, or flexible, exchange rates.
B) Prior to late 1971, exchange rates between the dollar and many other nations' monies were based primarily on gold.
C) When the values of different nations' monies are based on gold, the exchange rates between those monies fluctuate little, if at all.
D) With a flexible exchange rate, the rate is set weekly and holds for a full seven days.
Correct Answer:
Verified
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