Economics WAEC

When a member’s currency is declared “scarce”, it is the duty of the IMF to?

A. suspend the member state indefinitely
B. ban all exports from that state
C. suspend dealings in that currency for one year
D. ration it among the countries demanding it

Correct Answer: Option D

D. ration it among the countries demanding it

Explanation

The clause provided that if the IMF ran out of sticks of a country’s currency, this could be declared a “scarce currency”, upon which members would be entitled and expected to discriminate against the country’s goods in their trade policies.

Sunday

Share
Published by
Sunday
Tags: economics

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

4 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

4 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

4 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

4 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

4 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

4 months ago