The Figure Below Shows the Demand (D) and Supply (S)

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-A commodity money standard exists when exchange rates are:

A) artificially pegged to the price of oil.
B) fixed in terms of gold, thus creating flexible exchange rates between countries.
C) fixed in terms of gold, thus creating fixed exchange rates between countries.
D) allowed to fluctuate based on the values of different currencies.
E) fixed, based on the values of different currencies, in terms of some commodity.