WAEC Economics 2014 Objective — Question 43
Question 43 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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The likely implication of the devaluation of a country's currency is that
- A. exports of such a country become cheaperCorrect
- B. Importation of goods into such a country becomes cheaper
- C. the value of such a country's currency rises
- D. foreign goods are attracted into the country
Explanation
When currencies are devalued, the export becomes cheaper while import becomes more expensive.
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