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The reduction in the value of a country’s currency in relation to the value of...

Economics
JAMB 2018

The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as____________

  • A. Deflation
  • B. Inflation
  • C. Devaluation
  • D. Revaluation
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Correct Answer: Option C
Explanation

Devaluation is the official reduction of the exchange value of national currency in relation to the currencies of other countries. It is also the fall in the exchange value of a country's currency in relation to the currencies of other countries.

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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995