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Under fixed exchange rates, which one of the following statements is the MOST accurate? a.Devaluation has no effect on the stock of money. b.Devaluation causes

Under fixed exchange rates, which one of the following statements is the MOST accurate?

a.Devaluation has no effect on the stock of money.

b.Devaluation causes a reduction of the money supply.

c.Revaluation causes an expansion of the money supply.

d.Revaluation causes a reduction of the money supply.

e.Revaluation has no effect on the stock of money.

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Macroeconomics

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978-0393923902

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