____ is an organization created to oversee the monetary and exchange rate policies of its members who pay quotas that are used to assists countries with temporary imbalances in their balance of payments.

Select one:

A. The World Bank

B. The International Monetary Fund

C. The International Bank for Reconstruction and Development

D. The International Development Association

The current international monetary system can be more correctly called

Select one:

A. a managed float exchange rate system because currencies are allowed to fluctuate but government central banks intervene when a currency is over valued or undervalued.

B. a fixed exchange rate system because the value of a currency is set by the G-7 participating countries.

C. a free float exchange rate system because the value of a currency is freely determined in the international monetary market without any government controls.

D. None of the above.