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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define Foreign Exchange.
💡 Hint: Think about the currencies exchanged between different countries.
Question 2
Easy
What does devaluation mean?
💡 Hint: Consider what happens to the price of goods when a currency devalues.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What was the major effect of the 1991 devaluation of the Indian Rupee?
- Increased inflation
- Made exports cheaper
- Decreased foreign reserves
💡 Hint: Think about how international prices change relative to local currency.
Question 2
True or False: The exchange rate was initially determined by market forces after the reforms.
- True
- False
💡 Hint: Reflect on the initial conditions before the reforms were enacted.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Suppose the Indian government again faces a balance of payments crisis. Discuss possible steps that could be taken based on lessons learned from the 1991 reforms.
💡 Hint: Consider both short-term and long-term strategies.
Question 2
Evaluate the effects of a sudden devaluation on inflation and consumer behavior in India.
💡 Hint: Think about how consumers react when their purchasing power decreases.
Challenge and get performance evaluation