The Following Statements Are True in the Current Exchange-Rate System

The following statements are true in the current exchange-rate system, except:

A) Major currencies like U.S. dollar, euro, pounds, and yen operate mostly in a flexible system responding to supply and demand forces
B) Some developing nations peg their currencies to the dollar and allow their currencies to fluctuate with it relative to other currencies
C) Each country uses its own unique currency; for example, only the U.S. uses the U.S. dollar as its currency
D) Some nations peg their currencies to a "basket" or group of other currencies, rather than to a single other currency