When a Country Officially Decreases the Value of Its Currency

question 61

Multiple Choice

When a country officially decreases the value of its currency relative to other currencies, it is called currency _____.

• A) appreciation
• B) devaluation
• C) depreciation
• D) revaluation

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Definitions:

Enforceable Contract

An agreement between parties that is legally binding and may be upheld and compelled by law.

Mailbox Rule

A rule providing that an acceptance of an offer becomes effective on dispatch.

Air-conditioned Bus

A bus equipped with a system to cool and dehumidify the air, providing comfort to passengers.

Tour Group

A group of individuals organized for the purpose of traveling together, usually with a guide or planned itinerary.