A decrease in the governmentally defined value of currency ____________________?
Correct answer: C. Devaluation
- A. Inflation
- B. Cheapness
- C. Devaluation
- D. All
Explanation
Devaluation is an official reduction in the value of a country's currency against other currencies. Inflation is a general rise in domestic prices, which may reduce purchasing power but is not the governmentally defined reduction itself.
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