Under a Flexible Exchange Rate System a Decline in the Value

question 124

Multiple Choice

Under a flexible exchange rate system a decline in the value of a currency relative to other currencies is a called a _______ and under a fixed exchange rate system a decrease in the official value of a currency is called a ________.

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

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Definitions:

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