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| Q. |
Under fixed exchange rate, which one of the following statements is the most accurate? |
| A. | Devaluation causes a reduction of the money supply. |
| B. | Devaluation has no effect on the stock of money. |
| C. | Devaluation causes an expansion of the money supply. |
| D. | Devaluation causes a reduction in output. |
| Answer» C. Devaluation causes an expansion of the money supply. | |
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