The effects of devaluation includes all except
COMMERCE
JAMB 2023
The effects of devaluation includes all except
- A. expansion of local industries
- B. increase in import
- C. increase in standard of living
- D. exports become cheaper
Correct Answer: C. increase in standard of living
Explanation
Devaluation of a currency makes imports more expensive, not cheaper, and can lead to a decrease in the standard of living as the cost of imported goods and services increases.
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