When a Country Decreases the Official Value of Its Currency

question 49

Multiple Choice

When a country decreases the official value of its currency, for example, Russia changes the value of the ruble from $.16 to $.04, it is said to have ____ its currency.

• A)floated
• B)revalued
• C)devalued
• D)depreciated

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Definitions:

Face-To-Face

A mode of communication or interaction that occurs when individuals engage directly with each other in the same physical space.

Solomon Asch

A psychologist best known for his research on conformity and group pressure.

Group Size

The number of individuals forming a social or working group, affecting its dynamics, interactions, and outcomes.

Conformity

The act of aligning one's beliefs, attitudes, and behaviors with those of a group or society's norms and expectations.