Final answer:
A government-managed nominal exchange rate system is known as a fixed (pegged) exchange rate, where the government uses various interventions to maintain the currency's value.
Step-by-step explanation:
An exchange-rate system in which the nominal exchange rate is set by the government is known as a fixed (pegged) exchange rate. In such a system, the value of a country's currency is tied to the value of another single currency, a basket of other currencies, or another measure of value, such as gold.
Governments maintaining a fixed exchange rate use market interventions and fiscal and monetary policies to manage their currency's value, aiming to stimulate exports, reduce imports, or avoid large deficits in the balance of payments.