Which of the following is the reason why the current foreign-exchange system is sometimes thought of as a managed-float system?
A. The exchange rates of a currency are determined by market forces.
B. Governments intervene frequently in the foreign exchange market.
C. Major currencies are allowed to freely float against each other.
D. Countries use a reference currency to estimate the value of their currencies.
Answer: B. Governments intervene frequently in the foreign exchange market.
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