GCE Commerce 2023 Objective — Question 28
Question 28 of 50 from the General Certificate of Education (GCE) Commerce 2023 Objective paper, with the correct answer and a full explanation.
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The deliberate act by a government of lowering the value of its currency relative to other currencies, in order to boost exports and make imports more expensive, is called
- A. revaluation
- B. appreciation
- C. devaluationCorrect
- D. inflation
Explanation
Devaluation is the official lowering of a country's currency value relative to other currencies. It is used to boost exports and make imports more expensive, improving the balance of trade.
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