Currency Devaluation - SS3 Economics Past Questions and Answers - page 1
What is currency devaluation?
An increase in the value of a country's currency
A decrease in the value of a country's currency
A change in the exchange rate of a country's currency
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Why do governments devalue their currency?
To reduce inflation
To make imports cheaper
To make exports more competitive
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What are some negative effects of currency devaluation?
Increased exports
Higher inflation
Lower trade deficit
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When was the most recent currency devaluation in Nigeria?
2018
2020
2022
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What is the purpose of currency devaluation in Nigeria?
To make imports cheaper
To make exports more competitive
To reduce inflation
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What is the impact of currency devaluation on a country's exports?
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What is the potential negative impact of currency devaluation on a country's economy?
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