Question : Statement1: Revaluation and Appreciation of currency are one and the same thing.
Statement 2: The concepts of demand for domestic goods and domestic demand for goods are same.
Option 1: Both the statements are true.
Option 2: Both the statements are false.
Option 3: Statement 1 is true and Statement 2 is false
Option 4: Statement 2 is true and Statement 1 is false
Correct Answer:
Both the statements are false.
Solution : The correct answer is (b) Both the statements are false.
Revaluation and Appreciation of currency are not the same thing. Revaluation refers to an official increase in the value of a currency, usually in a fixed exchange rate system, while Appreciation refers to an increase in the value of a currency relative to other currencies in a floating exchange rate system.
The concepts of demand for domestic goods and domestic demand for goods are not the same. Demand for domestic goods refers to the demand for goods produced within a country, while domestic demand for goods refers to the total demand for goods within a domestic market, including both domestic and imported goods.
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