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) devaluation (d) inflation
- 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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