Under the system of flexible exchange rates that began in 1943, exchange rates are determined by the actual process of supply and demand in the foreign exchange market.

Name: Under the system of flexible exchange rates that began in 1943, exchange rates are determined by the actual process of supply and demand in the foreign exchange market.
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The system of flexible exchange rates began in 1973, not 1943, allowing exchange rates to be determined by supply and demand in the foreign exchange market.

Under the System of Flexible Exchange Rates That Began in 1943