Previous year MCQs

Economy UPPSC 2003 GS-I
Question

Consider the following statements and select the correct answer from the code given below:

Assertion (A): Devaluation of a currency may promote export.
Reason (R): Price of the country’s products in the international market may fall due to devaluation.

Code:

Answer & Solution

Answer: (Detailed Solution Below)

Option A: Both A and R are correct and R is the correct explanation of A

Detailed Solution:

The correct answer is “Both A and R are correct and R is the correct explanation of A ”.
When a country's currency is devalued: Its exports become cheaper for foreign buyers because they need to pay less in their own currency to purchase goods from the devaluing country.

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