passwella.
Menu

WAEC Economics 2004 Question 43

Question 43

Balance of Payments and Exchange Rates

A policy by which governments restrict the amount of foreign currencies bought and sold is known as

  1. A.devaluation
  2. B.credit creation
  3. C.exchange control
  4. D.export promotion
Show the answer and explanation

Answer: C (exchange control)

Explanation

Exchange control is government regulation of the buying and selling of foreign currency.