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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Under a fixed exchange rate system, why might the United States want to devalue its currency?

To determine

Reason for devaluing the currency of Country U under a fixed exchange rate system.

Explanation

Devaluation is the reduction in the value of currency. Under a fixed exchange system, devaluation makes export cheaper and import costlier. This means that foreigners can purchase a product at a cheaper cost from Country...

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