Which of the following statements about exchange rates is true? - 3721

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Which of the following statements about exchange rates is true? 

A. 

Exchange rates were fixed prior to establishing a floating-rate international currency system, and all countries set a specific parity rate for their currency relative either to the Canadian or to the U.S. dollar.

B. 

Day-to-day fluctuations in exchange rates currently are caused by changes in parity rates.

C. 

A floating-rate international currency system has been operating since 1973.

D. 

All of the choices.

 
Solution Description

 Which of the following statements about exchange rates is true?